Healthcare diagnostics company QuidelOrtho (NASDAQ:QDEL) will be announcing earnings results tomorrow afternoon. Here’s what to expect.
QuidelOrtho beat analysts’ revenue expectations by 13.3% last quarter, reporting revenues of $727.1 million, down 2.3% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ constant currency revenue and EPS estimates.
Is QuidelOrtho a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting QuidelOrtho’s revenue to decline 6% year on year to $698.4 million, improving from the 14.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.58 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. QuidelOrtho has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 6.6% on average.
Looking at QuidelOrtho’s peers in the healthcare equipment and supplies segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Hologic posted flat year-on-year revenue, meeting analysts’ expectations, and Intuitive Surgical reported revenues up 25.2%, topping estimates by 6.5%. Hologic traded down 10.1% following the results while Intuitive Surgical was also down 4%.
Read our full analysis of Hologic’s results here and Intuitive Surgical’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. QuidelOrtho is down 3.9% during the same time and is heading into earnings with an average analyst price target of $51.14 (compared to the current share price of $42.89).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.