Qiagen (NYSE:QGEN) Sets New 52-Week High – Still a Buy?
by Michael Walen · The Markets DailyQiagen N.V. (NYSE:QGEN – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.12 and last traded at $54.1950, with a volume of 1837374 shares traded. The stock had previously closed at $47.57.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Barclays reiterated an “overweight” rating and set a $57.89 price target (up previously from $55.79) on shares of Qiagen in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qiagen in a report on Monday, December 29th. Citigroup downgraded shares of Qiagen from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $57.89 to $52.63 in a research note on Thursday, December 11th. Finally, Wall Street Zen lowered shares of Qiagen from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Qiagen presently has a consensus rating of “Hold” and an average target price of $52.84.
View Our Latest Research Report on QGEN
Qiagen Stock Performance
The stock has a market capitalization of $11.69 billion, a P/E ratio of 28.58, a PEG ratio of 2.19 and a beta of 0.66. The company has a quick ratio of 2.30, a current ratio of 2.60 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $48.21 and a two-hundred day moving average price of $49.38.
Qiagen (NYSE:QGEN – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $532.58 million during 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 revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. Equities analysts expect that Qiagen N.V. will post 2.26 earnings per share for the current year.
Institutional Investors Weigh In On Qiagen
A number of institutional investors and hedge funds have recently made changes to their positions in QGEN. Vanguard Group Inc. boosted its stake in Qiagen by 1.9% during the third quarter. Vanguard Group Inc. now owns 9,424,809 shares of the company’s stock valued at $420,401,000 after buying an additional 172,062 shares during the period. Amundi boosted its position in shares of Qiagen by 4.4% during the 3rd quarter. Amundi now owns 4,290,273 shares of the company’s stock valued at $201,471,000 after acquiring an additional 181,509 shares during the last quarter. Boston Partners bought a new stake in shares of Qiagen during the 3rd quarter valued at about $179,450,000. Norges Bank purchased a new position in shares of Qiagen during the second quarter worth about $158,728,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Qiagen by 10.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,164,805 shares of the company’s stock worth $143,018,000 after purchasing an additional 290,449 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.
Qiagen Company 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.