The investigation focuses on QuidelOrtho’s fourth-quarter earnings and its guidance, which disappointed the market and led to analysts downgrading the company’s stock. According to an article published on January 26, 2023, the company’s profitability disconnect was primarily due to lower-than-expected respiratory revenue. The article also stated that management’s decision to take a more prudent approach to guiding high-margin sales, while beneficial for long-term confidence in modeling, was a tough pill to take in the short term. Following the news, shares of QuidelOrtho fell by almost 34% in morning trading on the same day.
Shareholder Rights Law Firm Investigates QuidelOrtho for Potential Securities Law Violations
