Qiagen (NYSE:QGEN) to Post Q2 2024 Earnings of $0.52 Per Share, Zacks Research Forecasts

Qiagen (NYSE:QGEN) – Research analysts at Zacks Research boosted their Q2 2024 earnings estimates for Qiagen in a research report issued to clients and investors on Monday, May 20th. Zacks Research analyst M. Mondal now anticipates that the company will post earnings per share of $0.52 for the quarter, up from their prior forecast of $0.51. The consensus estimate for Qiagen’s current full-year earnings is $2.09 per share. Zacks Research also issued estimates for Qiagen’s FY2024 earnings at $2.10 EPS, Q3 2025 earnings at $0.58 EPS and FY2025 earnings at $2.23 EPS.

Qiagen (NYSE:QGEN) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Qiagen had a net margin of 17.38% and a return on equity of 12.59%. The business had revenue of $459.00 million during the quarter, compared to analyst estimates of $453.91 million. During the same quarter last year, the business earned $0.53 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis.

Several other equities research analysts have also recently weighed in on QGEN. Citigroup decreased their price objective on shares of Qiagen from $61.86 to $60.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on Qiagen from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Morgan Stanley raised Qiagen from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $49.48 to $51.00 in a research note on Friday, February 16th. Finally, 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 report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Qiagen has a consensus rating of “Moderate Buy” and a consensus price target of $50.95.

Qiagen Trading Down 1.0 %

Shares of QGEN stock opened at $45.02 on Wednesday. The stock has a 50-day moving average of $42.65 and a 200-day moving average of $43.28. The company has a current ratio of 1.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 3.85 and a beta of 0.42. Qiagen has a 1-year low of $34.74 and a 1-year high of $47.70.

Hedge Funds Weigh In On Qiagen

Several large investors have recently bought and sold shares of the stock. Riverview Trust Co purchased a new position in Qiagen in the first quarter valued at about $28,000. Briaud Financial Planning Inc purchased a new position in Qiagen during the 3rd quarter valued at about $31,000. Tower Research Capital LLC TRC grew its stake in Qiagen by 66.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 710 shares of the company’s stock valued at $31,000 after acquiring an additional 283 shares in the last quarter. Park Place Capital Corp bought a new stake in Qiagen during the 1st quarter worth approximately $36,000. Finally, Quarry LP bought a new position in Qiagen in the 4th quarter valued at $38,000. 70.00% of the stock is currently owned by institutional investors.

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.