Qiagen (NYSE:QGEN) Downgraded to “Hold” Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Qiagen (NYSE:QGEN – Free Report) from a buy rating to a hold rating in a research note published on Saturday morning.

Other analysts have also recently issued research reports about the stock. Citigroup cut shares of Qiagen from a “buy” rating to a “neutral” rating and cut their target price for the stock from $57.89 to $52.63 in a research note on Thursday, December 11th. Barclays reissued an “overweight” rating and issued a $57.89 price target (up from $55.79) on shares of Qiagen in a report on Monday, December 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Qiagen in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.84.

Get Our Latest Stock Analysis on QGEN

Qiagen Stock Performance

Shares of NYSE QGEN opened at $48.30 on Friday. The company has a current ratio of 2.60, a quick ratio of 2.30 and a debt-to-equity ratio of 0.45. Qiagen has a 12 month low of $39.61 and a 12 month high of $54.61. The stock has a 50 day moving average of $48.06 and a 200-day moving average of $49.51. The company has a market capitalization of $10.20 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.22 and a beta of 0.66.

Qiagen (NYSE:QGEN – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Qiagen had a return on equity of 14.80% and a net margin of 19.58%.The business had revenue of $532.58 million for the quarter, compared to analysts’ expectations of $525.68 million. During the same quarter in the prior year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts predict that Qiagen will post 2.26 EPS for the current year.

Institutional Trading of Qiagen

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Qiagen by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,424,809 shares of the company’s stock worth $420,401,000 after acquiring an additional 172,062 shares in the last quarter. Amundi lifted its stake in Qiagen by 4.4% during the third quarter. Amundi now owns 4,290,273 shares of the company’s stock worth $201,471,000 after purchasing an additional 181,509 shares during the last quarter. Boston Partners acquired a new stake in shares of Qiagen in the 3rd quarter valued at $179,450,000. Norges Bank bought a new position in shares of Qiagen in the 2nd quarter valued at $158,728,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Qiagen by 5.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,874,356 shares of the company’s stock valued at $133,140,000 after purchasing an additional 141,393 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Qiagen Company Profile

(Get Free Report)

Qiagen NV (NYSE: QGEN) is a global provider of sample and assay technologies designed to enable molecular testing in the fields of molecular diagnostics, applied testing, academic research and pharmaceutical development. The company’s solutions span the full workflow of nucleic acid and protein analysis, offering customers standardized kits, instruments and software tools that streamline the preparation, detection and quantification of DNA, RNA and proteins.

The company’s product portfolio includes nucleic acid extraction and purification systems, polymerase chain reaction (PCR) reagents and instrumentation, digital PCR platforms, next-generation sequencing (NGS) library‐preparation kits and proteomics solutions.

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