Qiagen (NYSE:QGEN) Updates FY 2022 Earnings Guidance

Qiagen (NYSE:QGENGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.30- for the period. The company issued revenue guidance of $2.20B-, compared to the consensus revenue estimate of $2.04 billion. Qiagen also updated its Q3 2022 guidance to $0.48- EPS.

Qiagen Price Performance

QGEN traded up $0.19 on Friday, reaching $49.64. The stock had a trading volume of 937,334 shares, compared to its average volume of 851,996. The firm has a 50-day moving average of $46.43 and a 200-day moving average of $47.19. Qiagen has a fifty-two week low of $41.32 and a fifty-two week high of $58.00. The company has a market capitalization of $11.27 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.15 and a beta of 0.23. The company has a current ratio of 1.90, a quick ratio of 1.58 and a debt-to-equity ratio of 0.52.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its stake in shares of Qiagen by 23.1% in the first quarter. Captrust Financial Advisors now owns 1,232 shares of the company’s stock worth $60,000 after purchasing an additional 231 shares during the last quarter. Toroso Investments LLC grew its holdings in Qiagen by 11.0% during the first quarter. Toroso Investments LLC now owns 7,392 shares of the company’s stock valued at $362,000 after purchasing an additional 735 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Qiagen by 10.2% in the first quarter. Prudential Financial Inc. now owns 8,825 shares of the company’s stock worth $432,000 after acquiring an additional 814 shares during the period. KB Financial Partners LLC boosted its holdings in shares of Qiagen by 21.3% in the first quarter. KB Financial Partners LLC now owns 4,999 shares of the company’s stock worth $245,000 after acquiring an additional 877 shares during the period. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of Qiagen by 37.0% in the first quarter. SkyView Investment Advisors LLC now owns 5,331 shares of the company’s stock worth $261,000 after acquiring an additional 1,440 shares during the period. Institutional investors own 55.85% of the company’s stock.

About Qiagen

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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.

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Earnings History and Estimates for Qiagen (NYSE:QGEN)

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