QuidelOrtho Corp reports results for the quarter ended June 30 - Earnings Summary

• QuidelOrtho Corp QDEL.OQ reported quarterly adjusted earnings of 12 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -7 cents. The mean expectation of nine analysts for the quarter was for earnings of one cent per share. Wall Street expected results to range from -5 cents to 7 cents per share.

• Revenue fell 3.6% to $613.90 million from a year ago; analysts expected $611.20 million.

• QuidelOrtho Corp's reported EPS for the quarter was a loss of $3.77​.

• The company reported a quarterly loss of $255.4 million.

• QuidelOrtho Corp shares had fallen by 16.3% this quarter and lost 45.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 86.2% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," 3 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the advanced medical equipment & technology peer group is also "buy"

• Wall Street's median 12-month price target for QuidelOrtho Corp is $50.00, about 51.8% above its last closing price of $24.11

This summary was machine generated from LSEG data August 5 at 09:53 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)