QuidelOrtho Corporation (QDEL, Financial) expressed satisfaction with its first-quarter performance, highlighting significant progress in achieving its strategic goals. During the Q1 earnings call, the company emphasized its strong position to sustain consistent growth. This positive outlook is based on the advancements made in their key business priorities.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for QuidelOrtho Corp (QDEL, Financial) is $53.29 with a high estimate of $60.00 and a low estimate of $44.00. The average target implies an upside of 106.13% from the current price of $25.85. More detailed estimate data can be found on the QuidelOrtho Corp (QDEL) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, QuidelOrtho Corp's (QDEL, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for QuidelOrtho Corp (QDEL, Financial) in one year is $58.60, suggesting a upside of 126.69% from the current price of $25.85. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the QuidelOrtho Corp (QDEL) Summary page.
QDEL Key Business Developments
Release Date: February 12, 2025
- Q4 2024 Revenue: $708 million, decreased by 4% year-over-year.
- Full Year 2024 Revenue: $2.8 billion, including $2.3 billion in non-respiratory revenue.
- Q4 2024 Adjusted EBITDA: $150 million, representing a 21% adjusted EBITDA margin.
- Full Year 2024 Adjusted EBITDA: $543 million, with a 19.5% adjusted EBITDA margin.
- Q4 2024 Adjusted Diluted EPS: $0.63.
- Full Year 2024 Adjusted Diluted EPS: $1.85.
- Q4 2024 Gross Profit Margin: 47%.
- Full Year 2024 COVID Revenue: $185 million.
- Q4 2024 COVID Revenue: $44 million.
- Q4 2024 Labs Business Growth: 4% excluding COVID and non-core revenue.
- Q4 2024 Immunohematology Growth: 4%.
- Q4 2024 Cardiac Revenue Decline: 9%.
- Q4 2024 Respiratory Revenue Decline: 18% year-over-year.
- Q4 2024 Adjusted Free Cash Flow: $68 million.
- Q4 2024 Cash Balance: $98 million.
- 2025 Revenue Guidance: $2.6 billion to $2.81 billion.
- 2025 Adjusted EBITDA Guidance: $575 million to $615 million, with a 22% adjusted EBITDA margin.
- 2025 Adjusted Diluted EPS Guidance: $2.07 to $2.57.
- 2025 COVID Revenue Guidance: $110 million to $140 million.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- QuidelOrtho Corp (QDEL, Financial) achieved solid top-line results in 2024, aligning with their financial guidance.
- The company reported over 90% of Q4 sales as recurring, driven by reagents, consumables, and service.
- The Labs business, which constitutes about 50% of total company revenues, showed a growth of 4% excluding COVID and non-core revenue.
- QuidelOrtho Corp (QDEL) initiated clinical trials for the Savanna Respiratory Panel, aiming to complete them in the upcoming months.
- The company is implementing cost reduction initiatives, expecting to drive margin growth over the next few years to achieve benchmark levels of profitability.
Negative Points
- Total reported revenue in Q4 2024 decreased by 4% year-over-year due to expected declines in COVID and flu testing revenues.
- Adjusted EBITDA for Q4 2024 was $150 million, down from $195 million in the prior year period.
- North America revenue declined by 11% in Q4 2024, impacted by the decline in respiratory revenue and U.S. donor screening revenue.
- Adjusted gross profit margin decreased to 47% in Q4 2024 from 52% in the prior year period, primarily due to lower COVID and flu sales.
- The company faces challenges in China due to competitive intensity and reimbursement changes, impacting cardiac point of care products.
