QuidelOrtho (QDEL) Projected to Post Quarterly Earnings on Tuesday

QuidelOrtho (NASDAQ:QDEL) is expected to issue its quarterly earnings data after the market closes on Tuesday, February 11th. Analysts expect the company to announce earnings of $1.07 per share for the quarter. QuidelOrtho has set its FY24 guidance at $1.69-$1.91 EPS and its FY 2024 guidance at 1.690-1.910 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

QuidelOrtho (NASDAQ:QDEL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.30 by $0.55. The company had revenue of $727.00 million during the quarter, compared to analyst estimates of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. QuidelOrtho’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. On average, analysts expect QuidelOrtho to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

QuidelOrtho Stock Down 2.1 %

QDEL stock opened at $42.53 on Tuesday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -1.52 and a beta of 0.08. The firm has a 50-day moving average of $43.03 and a two-hundred day moving average of $42.06. QuidelOrtho has a 12 month low of $29.74 and a 12 month high of $69.83. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68.

Insiders Place Their Bets

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total value of $291,667,061.73. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian J. Blaser purchased 6,033 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $41.42 per share, with a total value of $249,886.86. Following the completion of the acquisition, the chief executive officer now directly owns 6,033 shares in the company, valued at $249,886.86. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup upgraded QuidelOrtho from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $50.00 in a report on Wednesday, December 11th. William Blair restated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group began coverage on shares of QuidelOrtho in a report on Tuesday, December 10th. They issued a “hold” rating and a $43.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $53.43.

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.