QuidelOrtho Corporation QDEL recently announced preliminary revenues for fourth-quarter 2024. The preliminary results drove down the shares of the company by 2.5% on Jan. 13.

The company is expected to release fourth-quarter results on Feb. 12, 2025.

Per the preliminary report, QDEL expects total reported revenues for the fourth quarter of 2024 in the range of approximately $702 million-$707 million, which aligns with its previously announced 2024 financial guidance, including Labs revenue, which also aligns with expectations. Non-respiratory reported revenues are expected to be in the range of $561 million-$563 million, and Respiratory reported revenues are anticipated to be in the range of $141 million-$143 million.

The Zacks Consensus Estimate of $699.9 million lies below the preliminary figure. The preliminary revenues suggest growth of 9.2% sequentially and a decline 5.1% year over year, at the midpoint of the range.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

A Brief Q4 Analysis of QuidelOrtho

Per the third-quarter earnings call, QDEL’s respiratory business performed well during the quarter, with a strong performance from Sofia flu and COVID-19 combo test. In August, QDEL announced the FDA 510(k) clearance for its VITROS syphilis assay part of its menu, which is likely to strengthen its position as a leader in infectious disease testing. The expansion into the U.S. market aims to provide timely and accurate diagnosis, which is crucial for effective treatment and control of the disease.

QuidelOrtho has shown strong growth in recent quarters, maintaining resilience in both respiratory and non-respiratory sectors. The company’s fourth-quarter performance is expected to continue this trend, with preliminary revenue projections indicating stability and alignment with previous expectations. Given this momentum, the company is well-positioned to sustain its growth trajectory as it closes in 2024.

QDEL’s Price Performance

Shares of the company have soared 40.3% in the past six months compared with the industry’s 7.7% rise and the S&P 500’s 3.8% growth.

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QDEL’s Zacks Rank & Key Picks

Currently, QDEL carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader medical space are Masimo MASI, ResMed RMD and Abbott Laboratories ABT.

Masimo, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 11.8% for 2025. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MASI’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 17.10%. Its shares have risen 31.7% against the industry’s 1% decline in the past six months.

ResMed, carrying a Zacks Rank #2 at present, has an estimated EPS growth rate of 21.1% for 2025.

ResMed’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 6.41%. Its shares have risen 31.6% against the industry’s 12.8% decline in the past year.

Abbott, carrying a Zacks Rank of 2 at present, has an estimated earnings growth rate of 10% for 2025. It delivered a trailing four-quarter average earnings surprise of 1.64%.

ABT’s shares have risen 8.5% in the past six months compared with the industry’s 7.2% growth.

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Abbott Laboratories (ABT) : Free Stock Analysis Report

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