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 lower than expected FY24 adjusted EPS forecast.
February 14, 2024 | 1:48 pm
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QuidelOrtho's shares fell due to poor Q4 financial performance and a pessimistic FY24 adjusted EPS guidance.
The negative reaction in QuidelOrtho's stock price is directly tied to the company's disappointing Q4 financial results and its forecast for FY24 adjusted EPS, which fell below market expectations. Such financial underperformance and pessimistic outlook typically lead to a loss of investor confidence, resulting in a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100