Redwood Wealth Management Group LLC Acquires New Position in Qiagen (NYSE:QGEN)

Redwood Wealth Management Group LLC bought a new position in Qiagen (NYSE:QGEN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,388 shares of the company’s stock, valued at approximately $139,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC grew its stake in shares of Qiagen by 12.0% in the 2nd quarter. CWM LLC now owns 2,505 shares of the company’s stock valued at $103,000 after buying an additional 269 shares in the last quarter. Eagle Asset Management Inc. grew its position in Qiagen by 2.2% in the fourth quarter. Eagle Asset Management Inc. now owns 20,338 shares of the company’s stock worth $883,000 after acquiring an additional 430 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Qiagen by 1.0% during the 4th quarter. TD Asset Management Inc now owns 53,531 shares of the company’s stock worth $2,330,000 after purchasing an additional 554 shares during the last quarter. Riverview Trust Co bought a new position in shares of Qiagen during the 1st quarter valued at $28,000. Finally, Park Place Capital Corp acquired a new stake in shares of Qiagen in the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Qiagen from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Wolfe Research raised Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a report on Thursday, June 27th. Finally, Robert W. Baird boosted their target price on Qiagen from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.10.

Qiagen Stock Performance

QGEN opened at $46.36 on Monday. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $44.45 and its two-hundred day moving average price is $43.40. The firm has a market capitalization of $10.58 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 3.27 and a beta of 0.39. Qiagen has a 12-month low of $34.74 and a 12-month high of $47.44.

Qiagen (NYSE:QGEN) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. Qiagen had a net margin of 3.75% and a return on equity of 12.92%. The business had revenue of $496.00 million for the quarter, compared to the consensus estimate of $495.45 million. During the same quarter last year, the company posted $0.53 earnings per share. Qiagen’s quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that Qiagen will post 2.15 earnings per share for the current year.

Qiagen 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.