QuidelOrtho (NASDAQ:QDEL) Updates FY24 Earnings Guidance

QuidelOrtho (NASDAQ:QDEL) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.69-$1.91 for the period, compared to the consensus earnings per share estimate of $1.73. The company issued revenue guidance of $2.70-$2.80 billion, compared to the consensus revenue estimate of $2.71 billion.

QuidelOrtho Price Performance

QuidelOrtho stock traded down $1.11 during trading hours on Thursday, hitting $38.85. 708,714 shares of the company traded hands, compared to its average volume of 963,316. The firm has a market cap of $2.61 billion, a P/E ratio of -1.44 and a beta of 0.12. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $42.34 and its two-hundred day simple moving average is $40.43. QuidelOrtho has a 1-year low of $29.74 and a 1-year high of $75.86.

Wall Street Analysts Forecast Growth

QDEL has been the topic of several research analyst reports. Craig Hallum raised shares of QuidelOrtho from a “hold” rating to a “buy” rating and raised their target price for the company from $40.00 to $57.00 in a research note on Thursday, September 5th. UBS Group initiated coverage on shares of QuidelOrtho in a research note on Thursday, September 19th. They issued a “neutral” rating and a $50.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of QuidelOrtho in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $58.83.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.