Qiagen NV (QGEN) Rating Lowered to Hold at Zacks Investment Research
Qiagen NV (NASDAQ:QGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Qiagen’s constant effort to strengthen its molecular diagnostics test menu is encouraging. The huge potential of the global in vitro diagnostics market also buoys optimism. Further, Qiagen’s expanded commercialization to the Asia-Pacific region is another upside. We are currently looking for Qiagen’s current launch of QIAseq cfDNA targeting liquid biopsy and hereditary diseases as well as its strategic partnership with Hamilton Robotics in the field of DNA fingerprinting. The company’s commitment to pay back its shareholders through increased share repurchase program is indicative of the solid cash position it holds. On the flip side, declining U.S. HPV sales may continue to impede the overall sales performance. Further, on the profitability front, Qiagen performed poorly on the back of declines in both gross and operating margins. Competitive landscape and strong reliance on collaborations also continue to be concerns.”
Several other brokerages have also issued reports on QGEN. Commerzbank AG reaffirmed a “buy” rating on shares of Qiagen NV in a research report on Friday, September 9th. DZ Bank AG reaffirmed a “buy” rating on shares of Qiagen NV in a research report on Monday, September 12th. Morgan Stanley set a $30.00 target price on Qiagen NV and gave the company a “buy” rating in a research report on Sunday, September 11th. TheStreet raised Qiagen NV from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Finally, Mizuho upped their target price on Qiagen NV from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, August 1st. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $25.36.
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Qiagen NV (NASDAQ:QGEN) opened at 26.19 on Wednesday. The firm has a 50-day moving average price of $26.62 and a 200-day moving average price of $24.04. Qiagen NV has a 12-month low of $19.94 and a 12-month high of $28.04. The company has a market cap of $6.13 billion, a P/E ratio of 52.38 and a beta of 0.83.
Qiagen NV (NASDAQ:QGEN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The firm earned $334.40 million during the quarter, compared to analyst estimates of $326.73 million. Qiagen NV had a return on equity of 9.21% and a net margin of 9.13%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. On average, equities research analysts forecast that Qiagen NV will post $1.09 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of QGEN. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Qiagen NV during the second quarter worth approximately $116,000. First Mercantile Trust Co. bought a new stake in shares of Qiagen NV during the second quarter worth approximately $126,000. Societe Generale bought a new stake in shares of Qiagen NV during the second quarter worth approximately $152,000. SG Americas Securities LLC increased its stake in shares of Qiagen NV by 9.9% in the second quarter. SG Americas Securities LLC now owns 6,977 shares of the company’s stock worth $152,000 after buying an additional 629 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Qiagen NV by 25.2% in the first quarter. Royal Bank of Canada now owns 7,712 shares of the company’s stock worth $173,000 after buying an additional 1,553 shares during the last quarter. Hedge funds and other institutional investors own 58.74% of the company’s stock.
Qiagen NV Company Profile
QIAGEN N.V. (QIAGEN) is a holding company. The Company and its subsidiaries are engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Sample to Insight solutions are composed of sample and assay technologies, bioinformatics and automation systems.
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