Published on 23 Mar 2023 on Zacks via Yahoo Finance

3 Reasons to Retain QuidelOrtho (QDEL) Stock in Your Portfolio

QuidelOrtho Corporation QDEL is well-poised for growth in the coming quarters, courtesy of its strong product portfolio. The optimism led by a solid fourth-quarter 2022 performance, along with a few regulatory clearances, is expected to contribute further. However, headwinds due to data security threats and overdependence on diagnostic tests persist.

Over the past year, this Zacks Rank #3 (Hold) stock has lost 22.2% compared with a 39.7% decline of the industry and the S&P 500's 13.9% fall.

The renowned rapid diagnostic testing solutions provider has a market capitalization of $5.72 billion. QuidelOrtho projects 11.4% growth for 2024 and expects to maintain its strong performance. The company’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed the same in the other, the average surprise being 54.3%.