2023-04-15 06:05:00 ET
QuidelOrtho (NASDAQ: QDEL) put a collective smile on the faces of its investors at the end of the week. After announcing estimates-beating preliminary results after market hours Thursday, the diagnostics company's share price shot 5% higher the following trading session. That was more than good enough to top the S&P 500 index, which slipped by 0.2% on the day.
No doubt happily, QuidelOrtho announced that it should book $840 million to $850 million in revenue for the inaugural quarter of 2023. That's significantly higher than the average of nearly $747 million estimated by analysts tracking the specialty healthcare company's stock.
Respiratory products, an important segment for QuidelOrtho, are expected to contribute $262 million to $267 million to this tally. COVID-19 products should comprise far and away the bulk of the segment, coming in at $212 million to $217 million.
For further details see:
Why QuidelOrtho Stock Popped by 5% on Friday