Zacks Investment Research Downgrades Qiagen NV (QGEN) to Hold
Qiagen NV (NASDAQ:QGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 research analysts have also recently weighed in on the stock. Commerzbank AG reissued a “buy” rating on shares of Qiagen NV in a report on Friday, September 9th. Mizuho increased their price target on shares of Qiagen NV from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 1st. HSBC raised shares of Qiagen NV from a “hold” rating to a “buy” rating in a report on Monday, August 1st. TheStreet raised shares of Qiagen NV from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Qiagen NV in a report on Friday, July 29th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $25.36.
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Shares of Qiagen NV (NASDAQ:QGEN) opened at 26.04 on Wednesday. The firm has a market capitalization of $6.09 billion, a P/E ratio of 52.08 and a beta of 0.83. The firm’s 50-day moving average price is $26.62 and its 200-day moving average price is $24.04. Qiagen NV has a 12-month low of $19.94 and a 12-month high of $28.04.
Qiagen NV (NASDAQ:QGEN) last issued its earnings results on Thursday, July 28th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The company had revenue of $334.40 million for the quarter, compared to analysts’ expectations of $326.73 million. Qiagen NV had a net margin of 9.13% and a return on equity of 9.21%. Qiagen NV’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. Equities analysts predict that Qiagen NV will post $1.09 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in Qiagen NV during the second quarter valued at about $116,000. First Mercantile Trust Co. bought a new stake in shares of Qiagen NV during the second quarter worth $126,000. Societe Generale bought a new stake in shares of Qiagen NV during the second quarter worth $152,000. SG Americas Securities LLC raised 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 in the last quarter. Finally, Royal Bank of Canada raised 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 in the last quarter. Institutional investors and hedge funds 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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