QuidelOrtho Corporation - QDEL STOCK NEWS

QuidelOrtho (QDEL) announced a secondary offering where Carlyle Partners VI Cayman Holdings will sell 8,260,183 shares of common stock. The last reported stock price was $38.58 per share on November 19, 2024. Goldman Sachs & Co. is the sole underwriter. Following the offering, Carlyle will exit its position entirely, terminating their Principal Stockholders Agreement and losing board nomination rights. QuidelOrtho will not receive any proceeds from this offering as all proceeds go to the selling stockholder.

QuidelOrtho reported its Q3 2024 financial results, highlighting a total revenue of $727 million, down from $744 million the previous year, mainly due to higher COVID-19 and influenza revenues in the prior period. GAAP net loss was $20 million compared to $13 million last year, with a GAAP diluted loss per share of ($0.30) versus ($0.19). GAAP operating income was $15 million, down from $26 million, and GAAP operating margin was 2%, compared to 4% previously. Adjusted EPS was $0.85, slightly down from $0.90. Adjusted EBITDA was $171 million, up from $169 million, with a margin of 23.5% compared to 22.7%.

The company reinstated 2024 financial guidance, projecting total revenues of $2.75-$2.80 billion, adjusted EBITDA of $530-$550 million, and adjusted EPS of $1.69-$1.91. QuidelOrtho also emphasized ongoing cost-saving initiatives and leadership enhancements to drive future growth.

QuidelOrtho (Nasdaq: QDEL), a global provider of in vitro diagnostic technologies, has announced its participation in three major investor conferences. The company will engage in fireside chats at the UBS Global Healthcare Conference on November 12, 2024, at 2:00 p.m. ET in Rancho Palos Verdes, the Citi 2024 Global Healthcare Conference on December 4, 2024, at 1:00 p.m. ET in Miami, and the Evercore ISI 7th Annual HealthConX Conference on December 5, 2024, at 10:00 a.m. ET in Coral Gables. Live webcasts and replays will be available through QuidelOrtho's investor relations website.

QuidelOrtho (Nasdaq: QDEL), a global provider of innovative in vitro diagnostic technologies, has announced that it will report its financial results for the third quarter of 2024 on Thursday, November 7, 2024, after the market close. The company will hold a conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results.

Interested parties can access the call through the 'Events & Presentations' section of the company's Investor Relations webpage. Presentation materials will be posted at the time of the call. Those unable to access the webcast can join via phone by dialing 833-470-1428 (domestic) or +1 929-526-1599 (international) with Conference ID number 117739. A replay of the call will be available on the company's website shortly after the event.

QuidelOrtho (Nasdaq: QDEL) has announced the appointment of Jonathan Siegrist, PhD, as its new Executive Vice President of Research and Development (R&D) and Chief Technology Officer (CTO), effective October 7, 2024. Siegrist brings over 15 years of experience in molecular diagnostics, microfluidic platforms, and biomedical engineering. He will lead QuidelOrtho's R&D strategy, focusing on menu expansion and advancing critical platforms.

Siegrist previously served as CTO and Head of Assay Research and Development at Cepheid and co-founded a diagnostics manufacturing company. He will report to Brian Blaser, President and CEO. Werner Kroll, Senior Vice President of R&D, will support the transition until his retirement in March 2025. QuidelOrtho aims to leverage Siegrist's expertise to enhance its position in immunoassay and molecular testing, as well as clinical labs and transfusion medicine solutions.

QuidelOrtho (Nasdaq: QDEL) has appointed Lee Bowman as Chief Human Resources Officer (CHRO). Bowman, with over 25 years of HR leadership experience, will lead QuidelOrtho's human resources strategy and report to CEO Brian Blaser. His role includes overseeing compensation, benefits, recruitment, talent management, and employee development.

Bowman's career includes significant roles at RadNet, Edwards Lifesciences, Levi Strauss & Co., and Target. He holds an MBA from San Diego State University and a BS from Towson University. CEO Blaser highlighted Bowman's expertise in aligning HR strategies with business objectives and fostering an inclusive, high-performing workplace as important for QuidelOrtho's continued growth.

QuidelOrtho (Nasdaq: QDEL) has received FDA 510(k) clearance for its VITROS syphilis assay, now available on VITROS 3600, 5600, and XT 7600 systems in the U.S. This automated assay detects total antibodies to Treponema pallidum in human serum and plasma, aiding in syphilis diagnosis. The launch addresses the growing syphilis epidemic in the U.S., with over 176,000 new cases reported annually and a 36% increase in primary and secondary syphilis since 2021.

The VITROS syphilis assay improves laboratory efficiency by allowing labs to follow the CDC's reverse testing algorithm for syphilis screening. It also reduces costs through earlier disease detection, minimizing the need for external lab referrals. This expansion aims to provide timely and accurate diagnosis, important for effective treatment and disease control.

QuidelOrtho (Nasdaq: QDEL), a global provider of innovative in vitro diagnostic technologies, has announced its participation in two upcoming investor conferences:

1. Morgan Stanley 22nd Annual Global Health Conference in New York, NY on September 5, 2024. President and CEO Brian Blaser and CFO Joseph Busky will participate in a fireside chat at 7:00 a.m. ET.

2. 2024 Baird Global Healthcare Conference in New York, NY on September 10, 2024. Blaser and Busky will participate in a fireside chat at 9:40 a.m. ET.

Live webcasts and replays of both events will be accessible through the 'Events & Presentations' section of QuidelOrtho's Investor Relations webpage.

QuidelOrtho (Nasdaq: QDEL) reported its Q2 2024 financial results. Key highlights include:

- Total revenue of $637 million, down from $665 million in Q2 2023
- GAAP diluted loss per share of ($2.20), compared to ($0.80) in Q2 2023
- Adjusted diluted loss per share of ($0.07), down from $0.26 in Q2 2023
- Adjusted EBITDA of $90 million with a 14% margin

The company announced $100 million in annualized cost-savings initiatives to benefit H2 2024 and H1 2025. QuidelOrtho is focusing on aligning operating expenses with revenue expectations and prioritizing R&D efforts in key growth areas.