Why QuidelOrtho Stock Bounced More Than 4% Higher Today
Healthcare in vitro diagnostics company QuidelOrtho (NASDAQ: QDEL) attracted the right kind of attention from investors after posting its latest quarterly earnings report on Thursday. A rather encouraged market traded the company's shares up by more than 4% in response. That was more than good enough to top the S&P 500 index's slightly over 1% increase.QuidelOrtho's fourth-quarter and full-year results, unveiled after market close on Wednesday, showed that the company earned $708 million in revenue. Although that was down by almost 5% on a year-over-year basis, it topped the average analyst estimate of slightly more than $698 million. Non-GAAP (adjusted) net income also fell, tumbling to $42.6 million ($0.63 per share) from the $78.6 million of Q4 2023. Again, though, the result was good enough to beat the consensus pundit projection, in this case $0.58 per share. Continue reading
Healthcare in vitro diagnostics company QuidelOrtho (NASDAQ: QDEL) attracted the right kind of attention from investors after posting its latest quarterly earnings report on Thursday. A rather encouraged market traded the company's shares up by more than 4% in response. That was more than good enough to top the S&P 500 index's slightly over 1% increase.
QuidelOrtho's fourth-quarter and full-year results, unveiled after market close on Wednesday, showed that the company earned $708 million in revenue. Although that was down by almost 5% on a year-over-year basis, it topped the average analyst estimate of slightly more than $698 million.
Non-GAAP (adjusted) net income also fell, tumbling to $42.6 million ($0.63 per share) from the $78.6 million of Q4 2023. Again, though, the result was good enough to beat the consensus pundit projection, in this case $0.58 per share.
