Qiagen (NYSE:QGEN) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Qiagen (NYSE:QGEN) from a sell rating to a hold rating in a report published on Monday morning, Zacks.com reports. They currently have $32.00 target price on the stock.

According to Zacks, “QIAGEN ended the third quarter on a mixed note with earnings beating and revenues missing the estimates. The company registered revenue growth across majority of its geographies and operating segments. We are also upbeat about the company’s Sample to Insight portfolio progress in the quarter. Developments like QuantiFERON-TB’s growth at 18% CER, and continued momentum of the QIAstat-Dx and QIAsymphony are impressive. The recently-inked 15-year strategic partnership with Illumina is also encouraging. We are impressed with the strong international performance of the company. The company continued gaining traction from its collaboration with DiaSorin.  On the flip side, a revenue guidance cut for the full year and contraction of both margins are concerning.QIAGEN has underperformed its industry in the past year.”

QGEN has been the topic of a number of other research reports. ValuEngine lowered Qiagen from a buy rating to a hold rating in a research report on Tuesday, August 20th. BNP Paribas upgraded Qiagen from a neutral rating to an outperform rating in a research report on Friday, July 12th. Kepler Capital Markets lowered Qiagen from a hold rating to a reduce rating in a research report on Wednesday, October 9th. Piper Jaffray Companies cut their target price on Qiagen from $36.00 to $31.00 and set a neutral rating on the stock in a research report on Tuesday, October 8th. Finally, TheStreet lowered Qiagen from a b- rating to a c+ rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $33.57.

Shares of NYSE QGEN traded up $0.30 during trading on Monday, reaching $31.61. The company had a trading volume of 1,134,788 shares, compared to its average volume of 1,277,807. The company’s fifty day moving average price is $30.20 and its 200-day moving average price is $35.78. Qiagen has a 12 month low of $25.04 and a 12 month high of $41.55. The stock has a market cap of $6.83 billion, a P/E ratio of 23.59, a PEG ratio of 2.26 and a beta of 0.83. The company has a quick ratio of 2.18, a current ratio of 2.45 and a debt-to-equity ratio of 0.68.

Qiagen (NYSE:QGEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Qiagen had a positive return on equity of 12.24% and a negative net margin of 1.68%. The firm had revenue of $382.70 million for the quarter, compared to analyst estimates of $382.98 million. During the same quarter in the previous year, the company posted $0.35 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Qiagen will post 1.4 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. M&T Bank Corp boosted its position in shares of Qiagen by 45.4% during the 2nd quarter. M&T Bank Corp now owns 8,230 shares of the company’s stock valued at $333,000 after purchasing an additional 2,568 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in Qiagen by 28.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,195,033 shares of the company’s stock worth $89,011,000 after buying an additional 487,844 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Qiagen by 17.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,036 shares of the company’s stock worth $772,000 after buying an additional 2,893 shares during the period. Mackenzie Financial Corp acquired a new position in Qiagen during the 2nd quarter worth approximately $11,244,000. Finally, Fisher Asset Management LLC raised its stake in Qiagen by 86.4% during the 3rd quarter. Fisher Asset Management LLC now owns 304,318 shares of the company’s stock worth $10,033,000 after buying an additional 141,023 shares during the period. Institutional investors own 62.19% of the company’s stock.

Qiagen Company Profile

QIAGEN N.V. provides sample to insight solutions that transform biological materials into molecular insights worldwide. The company offers sample technologies for plasmid deoxyribonucleic acid (DNA) purification, ribonucleic acid purification and stabilization, genomic and viral nucleic acid purification, DNA cleanup after polymerase chain reaction (PCR) and sequencing, target enrichment, and library preparation for sequencing applications; and assay technology solutions.

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