QuidelOrtho Shares Rise 9% On Better-than-expected Q1 Prel. Revenue

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Shares of QuidelOrtho Corporation (QDEL), a diagnostic testing technologies and solutions provider, are rising more than 9% Thursday morning after the company reported preliminary first-quarter revenue, above analysts’ view.

The company expects revenue in the first quarter to be in the range of $840 million to $850 million, driven by strong results in its Labs business as well as better-than-expected results in the Point of Care business.

On average 8 analysts polled by Thomson-Reuters are expecting revenue of $746.75 million for the quarter.

First-quarter results are scheduled to be reported on May 3.

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