What Happened?
Shares of healthcare diagnostics company QuidelOrtho (NASDAQ:QDEL) jumped 41.1% in the afternoon session after the company reported decent first quarter 2025 results which significantly beat EPS and EBITDA expectations, though misses on full-year EPS guidance and constant currency revenue. Sales fell 3%, hurt by a sharp drop in COVID-19 and Donor Screening tests, even though core labs and respiratory (excluding COVID) grew at a solid pace. Zooming out, we think this was a decent quarter featuring some areas of strength but also some blemishes.
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What The Market Is Telling Us
QuidelOrtho’s shares are very volatile and have had 23 moves greater than 5% over the last year. But moves this big are rare even for QuidelOrtho and indicate this news significantly impacted the market’s perception of the business.
QuidelOrtho is down 17.8% since the beginning of the year, and at $37.00 per share, it is trading 22.3% below its 52-week high of $47.61 from January 2025. Investors who bought $1,000 worth of QuidelOrtho’s shares 5 years ago would now be looking at an investment worth $233.31.
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