QuidelOrtho (QDEL) Stock Crashes After Posting YoY Revenue Decline, Analyst Downgrades - Hagens Berman
“We’re investigating whether QuidelOrtho may have potentially misrepresented or concealed the true extent of the deterioration in its respiratory revenue,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
- “We’re investigating whether QuidelOrtho may have potentially misrepresented or concealed the true extent of the deterioration in its respiratory revenue,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
- Analysts did not react kindly to the news, with JP Morgan reportedly downgrading the stock to underweight and slashing its price target, pointing to a lack of clarity over the company’s outlook.
- This news sent the price of QuidelOrtho crashing $21.50, or over 32%, lower on Feb. 14, 2024.
- Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.