QuidelOrtho shares are trading lower after the company reported worse-than-expected Q4 financial results and issued FY24 adjusted EPS below estimates.
Portfolio Pulse from Benzinga Newsdesk
QuidelOrtho's shares dropped following the announcement of disappointing Q4 financial results and a forecast for FY24 adjusted EPS that falls below analyst estimates.
February 13, 2024 | 9:36 pm
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QuidelOrtho's stock price is expected to face downward pressure in the short term due to the reported disappointing Q4 financial results and a lower-than-expected FY24 adjusted EPS forecast.
Stock prices often react negatively to earnings reports that fall short of expectations, as they can indicate underlying issues with the company's performance or future prospects. The announcement of a lower-than-expected FY24 adjusted EPS forecast further compounds concerns about the company's future profitability and growth, likely leading to a decrease in investor confidence and a short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100