William Blair Comments on Qiagen’s FY2024 Earnings (NYSE:QGEN)

Qiagen (NYSE:QGEN) – Analysts at William Blair upped their FY2024 EPS estimates for Qiagen in a research note issued on Wednesday, August 7th. William Blair analyst A. Brackmann now anticipates that the company will post earnings per share of $2.14 for the year, up from their prior forecast of $2.09. The consensus estimate for Qiagen’s current full-year earnings is $2.15 per share.

Several other equities research analysts have also weighed in on QGEN. JPMorgan Chase & Co. boosted their target price on Qiagen from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Stifel Nicolaus reduced their price objective on shares of Qiagen from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Wolfe Research upgraded shares of Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Thursday, June 27th. Finally, Robert W. Baird boosted their target price on shares of Qiagen from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.10.

Qiagen Price Performance

Shares of NYSE QGEN traded down $0.09 during trading on Thursday, hitting $45.42. The company had a trading volume of 847,455 shares, compared to its average volume of 1,245,056. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 1.77. The company has a market cap of $10.36 billion, a P/E ratio of 30.46, a PEG ratio of 3.19 and a beta of 0.40. The business’s 50-day moving average is $42.85 and its 200 day moving average is $43.06. Qiagen has a 52 week low of $34.74 and a 52 week high of $46.55.

Qiagen (NYSE:QGEN) last announced its earnings results on Wednesday, July 31st. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $496.00 million for the quarter, compared to analysts’ expectations of $495.45 million. Qiagen had a return on equity of 12.92% and a net margin of 3.75%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share.

Institutional Investors Weigh In On Qiagen

A number of institutional investors and hedge funds have recently made changes to their positions in QGEN. Massachusetts Financial Services Co. MA grew its stake in Qiagen by 8.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,066,569 shares of the company’s stock valued at $1,045,211,000 after buying an additional 1,809,486 shares during the last quarter. Vanguard Group Inc. increased its stake in Qiagen by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 8,815,467 shares of the company’s stock valued at $382,856,000 after acquiring an additional 83,371 shares during the last quarter. Wellington Management Group LLP raised its position in Qiagen by 20.1% during the fourth quarter. Wellington Management Group LLP now owns 7,271,828 shares of the company’s stock valued at $316,463,000 after purchasing an additional 1,217,712 shares in the last quarter. Norges Bank acquired a new stake in shares of Qiagen in the 4th quarter valued at $264,322,000. Finally, Nuance Investments LLC grew its position in Qiagen by 17.3% in the second quarter. Nuance Investments LLC now owns 5,271,494 shares of the company’s stock valued at $216,606,000 after acquiring an additional 778,005 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Qiagen Company Profile

QIAGEN N.V. offers sample to insight solutions that transform biological materials into molecular insights worldwide. The company provides primary sample technology consumables, such as nucleic stabilization and purification kits for primary sample materials, manual and automated processing for genotyping, gene expression, and viral and bacterial analysis, as well as silica membranes and magnetic bead technologies; secondary sample technology consumables, including kits and components for purification of nucleic acids from secondary sample materials; and instruments for nucleic acid purification and accessories.