QuidelOrtho Corp is a prominent player in the field of medical diagnostics, specializing in the development and manufacture of diagnostic testing solutions
The company focuses on producing innovative products that aid in the rapid detection of infectious diseases and other critical health conditions, utilizing advanced technologies such as molecular diagnostics and immunoassay platforms. QuidelOrtho's portfolio includes a range of tests designed for use in various healthcare settings, including hospitals, laboratories, and physician offices, facilitating timely and accurate diagnoses that enhance patient care. Through its commitment to innovation and quality, the company strives to improve the health outcomes of individuals around the globe.
Healthcare diagnostics company QuidelOrtho (NASDAQQDEL) reported Q4 CY2024 results topping the market’s revenue expectations, but sales fell by 4.7% year on year to $707.8 million. On the other hand, the company’s full-year revenue guidance of $2.71 billion at the midpoint came in 2.2% below analysts’ estimates. Its non-GAAP profit of $0.63 per share was 8.5% above analysts’ consensus estimates.
SMID biotech stocks still see a lot of speculative interest except for a brief sell-off on August 5 when the XBI touched $91.The XBI is near its 2024 high in the $103 range.
It’s hard to focus on biotech stocks right now because there are many distractions. The Fed and the rate cuts, AI and semiconductor stocks and geopolitical turmoil seemingly worse than ever.
QuidelOrtho secures FDA approval for QuickVue COVID-19 test, catering to home and medical settings. Despite Savanna RVP4+ assay withdrawal, company promises a new multiplex assay for 2024/2025 respiratory season.
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