Wondering if QuidelOrtho at around $27 a share is a beaten down opportunity or a value trap? You are not alone. This stock has been on a wild ride and now looks cheap enough to raise eyebrows.
In the very short term the market has cooled slightly, with a 0.3% dip over the last week. That comes after a sharp 39.1% jump over the past month, even though the stock is still down 39.1% year to date and 33.9% over the last year.
Those swings are happening against a backdrop of ongoing integration of Quidel and Ortho Clinical Diagnostics, strategic refocusing on core diagnostics platforms, and renewed investor debate about how durable demand will be for its testing portfolio. At the same time, sentiment has been shifting as the market…
