QuidelOrtho (QDEL) Scheduled to Post Quarterly Earnings on Wednesday

QuidelOrtho (NASDAQ:QDEL - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.54 per share for the quarter. QuidelOrtho has set its FY24 guidance at $2.40 to $3.07 EPS and its FY 2024 guidance at 2.400-3.070 EPS.Parties that wish to register for the company's conference call can do so using this link.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $2.01 by ($0.84). The firm had revenue of $742.60 million for the quarter, compared to the consensus estimate of $796.91 million. QuidelOrtho had a negative net margin of 0.34% and a positive return on equity of 5.54%. The firm's revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. On average, analysts expect QuidelOrtho to post $2 EPS for the current fiscal year and $4 EPS for the next fiscal year.

QuidelOrtho Stock Performance

Shares of NASDAQ QDEL traded down $0.87 during trading on Wednesday, reaching $39.68. 844,835 shares of the company traded hands, compared to its average volume of 998,092. The company has a quick ratio of 0.88, a current ratio of 1.57 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.65 billion, a PE ratio of -248.00 and a beta of 0.11. The firm has a 50 day simple moving average of $44.18 and a 200-day simple moving average of $59.01. QuidelOrtho has a 52-week low of $37.78 and a 52-week high of $95.02.

Insiders Place Their Bets

In related news, CFO Joseph M. Busky acquired 2,150 shares of the business's stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $46.35 per share, for a total transaction of $99,652.50. Following the completion of the acquisition, the chief financial officer now directly owns 2,150 shares in the company, valued at approximately $99,652.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group reissued a "sell" rating and issued a $42.00 price objective (down previously from $70.00) on shares of QuidelOrtho in a report on Monday, March 4th. Royal Bank of Canada lowered their price target on shares of QuidelOrtho from $130.00 to $81.00 and set an "outperform" rating on the stock in a report on Wednesday, February 14th. JPMorgan Chase & Co. downgraded shares of QuidelOrtho from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $66.00 to $37.00 in a report on Wednesday, February 14th. Raymond James reaffirmed an "outperform" rating and set a $76.00 price target (down previously from $100.00) on shares of QuidelOrtho in a report on Wednesday, February 14th. Finally, Craig Hallum reiterated a "hold" rating on shares of QuidelOrtho in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, QuidelOrtho has a consensus rating of "Hold" and a consensus price target of $61.60.

About QuidelOrtho

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.