Allspring Global Investments Holdings LLC Sells 683,160 Shares of Qiagen N.V. $QGEN

Allspring Global Investments Holdings LLC lessened its stake in Qiagen N.V. (NYSE:QGEN) by 21.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,481,645 shares of the company’s stock after selling 683,160 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Qiagen were worth $100,209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of QGEN. Vanguard Group Inc. lifted its holdings in shares of Qiagen by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 9,542,944 shares of the company’s stock worth $433,871,000 after acquiring an additional 118,135 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Qiagen by 1.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,205,881 shares of the company’s stock valued at $1,088,538,000 after purchasing an additional 264,921 shares during the last quarter. Oak Harvest Investment Services boosted its stake in Qiagen by 17.7% in the fourth quarter. Oak Harvest Investment Services now owns 98,722 shares of the company’s stock valued at $4,440,000 after buying an additional 14,845 shares in the last quarter. BNP Paribas Financial Markets grew its position in Qiagen by 1.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,179,437 shares of the company’s stock valued at $53,039,000 after acquiring an additional 20,579 shares during the last quarter. Finally, M&T Bank Corp bought a new position in Qiagen in the fourth quarter valued at about $2,186,000. Institutional investors own 70.00% of the company’s stock.

Qiagen Price Performance

QGEN opened at $41.19 on Friday. The firm has a 50-day moving average of $37.34 and a 200 day moving average of $42.37. The firm has a market cap of $8.49 billion, a P/E ratio of 21.51, a PEG ratio of 4.14 and a beta of 0.64. Qiagen N.V. has a fifty-two week low of $32.53 and a fifty-two week high of $57.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.57 and a current ratio of 3.21.

Qiagen (NYSE:QGEN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $492.32 million during the quarter, compared to analysts’ expectations of $496.15 million. Qiagen had a return on equity of 14.40% and a net margin of 19.16%.During the same period in the previous year, the business earned $0.56 earnings per share. On average, research analysts expect that Qiagen N.V. will post 2.43 EPS for the current year.

Qiagen Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, July 7th were given a $0.35 dividend. The ex-dividend date was Tuesday, July 7th. This is an increase from Qiagen’s previous annual dividend of $0.26. This represents a yield of 90.0%. Qiagen’s dividend payout ratio is presently 18.32%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays set a $38.00 price objective on shares of Qiagen and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $43.00 price objective on shares of Qiagen in a report on Thursday, April 30th. Morgan Stanley upgraded Qiagen from an “overweight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research report on Tuesday, June 23rd. Citigroup reaffirmed a “hold” rating on shares of Qiagen in a report on Monday, May 18th. Finally, Stifel Nicolaus set a $36.00 price objective on Qiagen and gave the company a “hold” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Qiagen has a consensus rating of “Hold” and a consensus price target of $43.34.

About Qiagen

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.