Qiagen (NYSE:QGEN) Issues Q2 2024 Earnings Guidance

Qiagen (NYSE:QGENGet Free Report) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.520-0.520 for the period, compared to the consensus EPS estimate of 0.520. The company issued revenue guidance of $495.0 million-, compared to the consensus revenue estimate of $495.4 million.

Qiagen Stock Performance

NYSE QGEN opened at $44.85 on Friday. The company’s 50 day moving average is $42.68 and its 200-day moving average is $43.56. Qiagen has a 12-month low of $34.74 and a 12-month high of $47.70. The company has a quick ratio of 1.45, a current ratio of 1.84 and a debt-to-equity ratio of 0.25. The firm has a market cap of $10.23 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 3.79 and a beta of 0.42.

Qiagen (NYSE:QGENGet Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Qiagen had a net margin of 17.38% and a return on equity of 12.59%. The company had revenue of $459.00 million for the quarter, compared to analyst estimates of $453.91 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Sell-side analysts predict that Qiagen will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on QGEN shares. Stifel Nicolaus lowered their price target on shares of Qiagen from $55.00 to $45.00 and set a hold rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley raised shares of Qiagen from an equal weight rating to an overweight rating and upped their target price for the stock from $49.48 to $51.00 in a report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Qiagen has an average rating of Moderate Buy and a consensus target price of $50.95.

Check Out Our Latest Stock Report on QGEN

About Qiagen

(Get Free Report)

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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