QuidelOrtho rises on strong Q1 revenue forecast

Quidelortho

14/04/2023 16:20

** Shares of diagnostics co QuidelOrtho Corp  QDEL.O  rise
9% to $97.80, hitting over 4-month high
    ** Co expects Q1 total revenue in the range of $840 mln to
$850 mln, vs analysts' est. of $765.6 mln - Refinitiv
    ** Says increase in Q1 revenue results was driven by co's
Labs business unit, including an about $21 mln settlement
related to a collaboration agreement
    ** Sees Q1 respiratory product revenue to be between $262
mln and $267 mln, including COVID-19 product revenue of $212 mln
to $217 mln
    ** Non-respiratory product revenue is expected to be in the
range of $578 million to $583 million for Q1
    ** Shares up ~14% YTD

 (Reporting by Yamini Kalia)
 ((Yamini.Kalia@thomsonreuters.com))