QDEL

QuidelOrtho Corporation

Healthcare


Presented:08/05/2024
Price:$40.60
Cap:$2.73B
Current Price:$40.20
Cap:$2.70B

Presented

Date08/05/2024
Price$40.60
Market Cap$2.73B
Ent Value$4.89B
P/E RatioN/A
Book Value$47.30
Div Yield0%
Shares O/S67.24M
Ave Daily Vol1,221,111
Short Int8.17%

Current

Price$40.20
Market Cap$2.70B
QuidelOrtho Corp. operates as a vitro diagnostics company. It is focused on developing and manufacturing diagnostic products. The company was founded on May 27, 2022 and is headquartered in San Diego, CA.

Publicly traded companies mentioned herein: Labcorp Holdings Inc (LH), Quest Diagnostics Inc (DGX), QuidelOrtho Corp (QDEL)

Highlights

The presenter is long shares of QuidelOrtho Corp (QDEL), as the company refocuses on its core lab testing machine business and cuts back on its COVID testing business. Following a boom in demand from COVID tests, QDEL doubled down with increased capacity that resulted in weak trends as COVID test volumes fell. With new management in place and the company refocusing on its core business, the presenter sees upside to growth & is modeling 2026 FCF of $458MM and EPS of $4.18, implying an 18% FCF yield. 

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Idea Discussion

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