BlackRock Inc. decreased its position in Qiagen NV (NASDAQ:QGEN) by 4.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,107,181 shares of the company’s stock after selling 403,724 shares during the period. BlackRock Inc. owned approximately 3.55% of Qiagen worth $250,756,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Qiagen by 44.1% in the 4th quarter. Wells Fargo & Company MN now owns 124,743 shares of the company’s stock valued at $3,859,000 after buying an additional 38,149 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Qiagen by 50.8% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 11,451 shares of the company’s stock valued at $354,000 after buying an additional 3,860 shares during the period. Bessemer Group Inc. acquired a new position in shares of Qiagen in the 4th quarter valued at $1,388,000. Cambiar Investors LLC acquired a new position in shares of Qiagen in the 4th quarter valued at $3,915,000. Finally, Lourd Capital LLC acquired a new position in shares of Qiagen in the 4th quarter valued at $223,000. 62.23% of the stock is owned by institutional investors.
Qiagen NV (QGEN) opened at $34.39 on Tuesday. Qiagen NV has a one year low of $27.74 and a one year high of $36.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 5.07 and a quick ratio of 4.59. The firm has a market cap of $7,980.00, a price-to-earnings ratio of -345.70, a P/E/G ratio of 1.93 and a beta of 0.98.
Qiagen declared that its board has approved a share buyback program on Wednesday, January 31st that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
A number of equities analysts recently weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Qiagen in a research note on Monday, January 29th. They issued a “buy” rating and a $39.00 target price for the company. BidaskClub raised shares of Qiagen from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Morgan Stanley upped their target price on shares of Qiagen from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Commerzbank reaffirmed a “buy” rating on shares of Qiagen in a research note on Thursday, February 1st. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of Qiagen in a research note on Monday, January 22nd. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $35.33.
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QIAGEN N.V. (QIAGEN) is a holding company. The Company is engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Its Sample to Insight solutions integrate sample and assay technologies, bioinformatics and automation systems. Its sample technologies are used for isolating and preparing deoxyribonucleic acid (DNA), ribonucleic acid (RNA) and proteins from blood or other liquids, tissue, plants or other materials.
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