Qiagen (NYSE:QGEN) Shares Gap Up – Here’s Why

Qiagen (NYSE:QGEN)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $44.32, but opened at $46.15. Qiagen shares last traded at $45.77, with a volume of 175,771 shares traded.

Wall Street Analysts Forecast Growth

QGEN has been the subject of a number of research reports. HSBC lowered Qiagen from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a report on Thursday, October 17th. Jefferies Financial Group reiterated a “buy” rating and issued a $54.00 target price (up from $42.00) on shares of Qiagen in a report on Tuesday. Finally, Hsbc Global Res upgraded Qiagen to a “hold” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Qiagen currently has an average rating of “Moderate Buy” and an average target price of $51.15.

Qiagen Stock Performance

The company has a market cap of $10.45 billion, a P/E ratio of 113.67, a P/E/G ratio of 3.37 and a beta of 0.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.89. The business has a 50-day moving average of $43.07 and a two-hundred day moving average of $43.65.

Institutional Investors Weigh In On Qiagen

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Qiagen by 806.5% during the 3rd quarter. GAMMA Investing LLC now owns 562 shares of the company’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. Toronto Dominion Bank acquired a new position in Qiagen during the 2nd quarter valued at about $27,000. Massmutual Trust Co. FSB ADV raised its stake in Qiagen by 39.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 853 shares of the company’s stock valued at $39,000 after buying an additional 243 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Qiagen in the third quarter worth about $53,000. Finally, CWM LLC grew its stake in shares of Qiagen by 12.0% during the second quarter. CWM LLC now owns 2,505 shares of the company’s stock worth $103,000 after acquiring an additional 269 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.