Qiagen N.V. (NASDAQ:QGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “QIAGEN’s commitment to return more to its shareholders through increased share repurchases reflects solid cash position. We are also upbeat about QIAGEN’s partnership and co-marketing agreement with CENTOGENE AG to boost its bioinformatics portfolio. Moreover, the company’s strategic focus to drive growth through Sample to Insight offerings buoys optimism. QIAGEN is forming collaborations in the personalized homecare space also. Moreover, QIAsymphony continued to grow towards the target of 2,000 cumulative placements by 2017 end. On the flip side, over the last three months, QIAGEN has been trading below the broader industry. Moreover, adverse currency translation continues to be a drag on overall sales. Furthermore, declining HPV sales in the United States continues to be a drag. Competitive landscape and strong reliance on collaborations also continue to be concerns.”
Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of Qiagen N.V. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Barclays PLC reissued an “overweight” rating and set a $37.00 target price (up previously from $33.00) on shares of Qiagen N.V. in a research note on Monday, July 17th. Commerzbank Ag reissued a “buy” rating on shares of Qiagen N.V. in a research note on Friday, July 28th. Cowen and Company reissued a “hold” rating and set a $33.00 target price on shares of Qiagen N.V. in a research note on Monday, August 14th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $28.00 target price (up previously from $25.00) on shares of Qiagen N.V. in a research note on Monday, July 31st. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $33.28.
Shares of Qiagen N.V. (NASDAQ QGEN) opened at 34.26 on Monday. The company has a market cap of $7.82 billion, a PE ratio of 104.77 and a beta of 1.14. The firm’s 50 day moving average is $32.52 and its 200 day moving average is $32.24. Qiagen N.V. has a 12 month low of $24.89 and a 12 month high of $36.34.
Qiagen N.V. (NASDAQ:QGEN) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The firm had revenue of $349.00 million during the quarter, compared to the consensus estimate of $353.09 million. Qiagen N.V. had a net margin of 5.44% and a return on equity of 11.04%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share. On average, equities analysts predict that Qiagen N.V. will post $1.21 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of QGEN. BlackRock Inc. increased its stake in Qiagen N.V. by 8,793.4% in the first quarter. BlackRock Inc. now owns 7,839,636 shares of the company’s stock valued at $227,114,000 after purchasing an additional 7,751,485 shares in the last quarter. Legal & General Group Plc increased its stake in Qiagen N.V. by 2,651.3% in the first quarter. Legal & General Group Plc now owns 1,896,813 shares of the company’s stock valued at $16,690,000 after purchasing an additional 1,827,871 shares in the last quarter. Renaissance Technologies LLC increased its stake in Qiagen N.V. by 182.9% in the first quarter. Renaissance Technologies LLC now owns 1,514,898 shares of the company’s stock valued at $43,890,000 after purchasing an additional 979,498 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Qiagen N.V. in the second quarter valued at $26,408,000. Finally, AQR Capital Management LLC increased its stake in Qiagen N.V. by 1,120.2% in the first quarter. AQR Capital Management LLC now owns 783,087 shares of the company’s stock valued at $22,691,000 after purchasing an additional 718,912 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.
About Qiagen N.V.
QIAGEN N.V. (QIAGEN) is a holding company. The Company is engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Its Sample to Insight solutions integrate sample and assay technologies, bioinformatics and automation systems. Its sample technologies are used for isolating and preparing deoxyribonucleic acid (DNA), ribonucleic acid (RNA) and proteins from blood or other liquids, tissue, plants or other materials.
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