Sumitomo Mitsui Trust Group Inc. Invests $7.29 Million in Qiagen N.V. $QGEN

Sumitomo Mitsui Trust Group Inc. bought a new stake in Qiagen N.V. (NYSE:QGEN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 163,065 shares of the company’s stock, valued at approximately $7,286,000. Sumitomo Mitsui Trust Group Inc. owned 0.07% of Qiagen as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QGEN. MAI Capital Management lifted its position in shares of Qiagen by 998.9% in the 2nd quarter. MAI Capital Management now owns 978 shares of the company’s stock worth $47,000 after acquiring an additional 889 shares during the period. Farther Finance Advisors LLC lifted its position in Qiagen by 400.5% in the second quarter. Farther Finance Advisors LLC now owns 1,061 shares of the company’s stock worth $51,000 after purchasing an additional 849 shares during the period. Allworth Financial LP boosted its stake in Qiagen by 260.1% during the second quarter. Allworth Financial LP now owns 1,102 shares of the company’s stock worth $53,000 after buying an additional 796 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Qiagen by 13,144.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,192 shares of the company’s stock valued at $57,000 after buying an additional 1,183 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Qiagen by 375.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,241 shares of the company’s stock valued at $55,000 after buying an additional 980 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on QGEN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Qiagen in a research report on Monday, December 29th. Barclays reaffirmed an “overweight” rating and set a $57.89 price objective (up from $55.79) on shares of Qiagen in a report on Monday, December 15th. Wall Street Zen lowered Qiagen from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Citigroup downgraded Qiagen from a “buy” rating to a “neutral” rating and cut their target price for the stock from $57.89 to $52.63 in a research report on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.84.

Qiagen Trading Down 1.5%

QGEN opened at $47.64 on Friday. Qiagen N.V. has a 1-year low of $39.61 and a 1-year high of $54.61. The stock has a market capitalization of $10.06 billion, a PE ratio of 24.60, a PEG ratio of 2.19 and a beta of 0.66. The company has a current ratio of 2.60, a quick ratio of 2.30 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $48.17 and a two-hundred day moving average price of $49.41.

Qiagen (NYSE:QGEN) last announced its earnings results on Thursday, November 6th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $532.58 million for the quarter, compared to analyst estimates of $525.68 million. Qiagen had a net margin of 19.58% and a return on equity of 14.80%. Qiagen’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. As a group, equities analysts anticipate that Qiagen N.V. will post 2.26 earnings per share for the current fiscal year.

Qiagen Profile

Qiagen NV (NYSE: QGEN) is a global provider of sample and assay technologies designed to enable molecular testing in the fields of molecular diagnostics, applied testing, academic research and pharmaceutical development. The company’s solutions span the full workflow of nucleic acid and protein analysis, offering customers standardized kits, instruments and software tools that streamline the preparation, detection and quantification of DNA, RNA and proteins.

The company’s product portfolio includes nucleic acid extraction and purification systems, polymerase chain reaction (PCR) reagents and instrumentation, digital PCR platforms, next-generation sequencing (NGS) library‐preparation kits and proteomics solutions.