Cannon Global Investment Management LLC Takes $1.38 Million Position in Qiagen N.V. $QGEN

Cannon Global Investment Management LLC bought a new position in shares of Qiagen N.V. (NYSE:QGEN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,400 shares of the company’s stock, valued at approximately $1,377,000. Qiagen accounts for approximately 2.7% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 6th largest holding.

A number of other large investors also recently modified their holdings of the business. Allworth Financial LP lifted its position in Qiagen by 23.2% in the 3rd quarter. Allworth Financial LP now owns 1,358 shares of the company’s stock valued at $61,000 after purchasing an additional 256 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in Qiagen by 1.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 16,363 shares of the company’s stock valued at $747,000 after purchasing an additional 290 shares during the period. Commerce Bank grew its position in Qiagen by 4.9% in the 4th quarter. Commerce Bank now owns 6,725 shares of the company’s stock worth $302,000 after purchasing an additional 314 shares during the last quarter. Truist Financial Corp grew its position in Qiagen by 4.1% in the 4th quarter. Truist Financial Corp now owns 8,421 shares of the company’s stock worth $379,000 after purchasing an additional 331 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of Qiagen by 7.1% in the third quarter. Private Advisor Group LLC now owns 5,730 shares of the company’s stock valued at $256,000 after purchasing an additional 378 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Qiagen Stock Performance

Shares of NYSE QGEN opened at $38.95 on Friday. The stock’s fifty day simple moving average is $36.39 and its 200 day simple moving average is $43.19. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 3.87 and a beta of 0.66. The company has a quick ratio of 2.57, a current ratio of 3.21 and a debt-to-equity ratio of 0.49. Qiagen N.V. has a 52-week low of $32.53 and a 52-week high of $57.81.

Qiagen (NYSE:QGEN) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $492.32 million during the quarter, compared to analyst estimates of $496.15 million. Qiagen had a return on equity of 14.40% and a net margin of 19.16%.During the same quarter last year, the company posted $0.56 EPS. As a group, sell-side analysts forecast that Qiagen N.V. will post 2.43 earnings per share for the current fiscal year.

Qiagen Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, July 7th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, July 7th. This is a positive change from Qiagen’s previous annual dividend of $0.26. This represents a dividend yield of 104.0%. Qiagen’s dividend payout ratio is 13.61%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QGEN. Morgan Stanley raised Qiagen from an “overweight” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $42.00 in a research note on Tuesday. Stifel Nicolaus set a $36.00 price target on Qiagen and gave the stock a “hold” rating in a research note on Monday, May 18th. Kepler Capital Markets set a $38.60 price target on Qiagen and gave the company a “hold” rating in a report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Qiagen from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Barclays set a $38.00 price objective on shares of Qiagen and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Qiagen has an average rating of “Hold” and an average price target of $43.15.

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.