JPMorgan Chase & Co. Sells 512,299 Shares of Qiagen N.V. $QGEN

JPMorgan Chase & Co. lowered its holdings in shares of Qiagen N.V. (NYSE:QGEN) by 40.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 740,649 shares of the company’s stock after selling 512,299 shares during the period. JPMorgan Chase & Co.’s holdings in Qiagen were worth $33,092,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Lingohr Asset Management GmbH acquired a new stake in Qiagen in the third quarter valued at $4,218,000. Gateway Investment Advisers LLC acquired a new position in Qiagen during the 3rd quarter worth about $1,197,000. SG Americas Securities LLC bought a new stake in shares of Qiagen in the 3rd quarter valued at about $1,032,000. Great Lakes Advisors LLC bought a new stake in shares of Qiagen in the 3rd quarter valued at about $3,677,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Qiagen by 53.7% in the third quarter. Allianz Asset Management GmbH now owns 1,529,224 shares of the company’s stock valued at $68,028,000 after buying an additional 534,527 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Qiagen Stock Down 1.8%

Shares of Qiagen stock opened at $39.94 on Monday. Qiagen N.V. has a one year low of $39.78 and a one year high of $57.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.90 and a quick ratio of 3.31. The stock’s 50-day moving average is $48.48 and its 200 day moving average is $48.54. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.95 and a beta of 0.70.

Qiagen (NYSE:QGEN) last issued its earnings results on Friday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Qiagen had a return on equity of 14.56% and a net margin of 20.33%.The business had revenue of $540.42 million during the quarter, compared to the consensus estimate of $528.53 million. During the same period in the previous year, the company posted $0.61 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Qiagen N.V. will post 2.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QGEN. Zacks Research downgraded Qiagen from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. Citigroup decreased their target price on shares of Qiagen from $55.40 to $55.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Wall Street Zen upgraded shares of Qiagen from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of Qiagen in a research report on Monday, December 29th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Qiagen in a research note on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.20.

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.