Berenberg Bank Reaffirms “Buy” Rating for Qiagen (NYSE:QGEN)

Berenberg Bank reaffirmed their buy rating on shares of Qiagen (NYSE:QGEN) in a report issued on Friday, AnalystRatings.com reports. Berenberg Bank currently has a $40.00 price target on the stock.

Other research analysts have also issued reports about the stock. BNP Paribas upgraded shares of Qiagen from a neutral rating to an outperform rating in a research note on Friday, July 12th. Wolfe Research started coverage on shares of Waters in a research note on Thursday, May 30th. They issued an underperform rating for the company. DZ Bank reiterated a sell rating on shares of Daimler in a research note on Wednesday, July 24th. Barclays increased their price target on shares of from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the stock an equal weight rating in a research note on Friday, June 21st. Finally, Exane BNP Paribas upgraded shares of Qiagen from a neutral rating to an outperform rating in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $41.75.

Shares of Qiagen stock opened at $38.29 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.52 and a current ratio of 1.69. The stock has a 50-day simple moving average of $39.88. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 2.39 and a beta of 0.84. Qiagen has a 1 year low of $32.33 and a 1 year high of $41.55.

Qiagen (NYSE:QGEN) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $348.70 million during the quarter, compared to analyst estimates of $351.68 million. Qiagen had a net margin of 12.94% and a return on equity of 12.15%. Qiagen’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.26 EPS. Equities analysts anticipate that Qiagen will post 1.41 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp increased its position in shares of Qiagen by 0.4% in the 4th quarter. Northern Trust Corp now owns 739,567 shares of the company’s stock valued at $25,477,000 after buying an additional 2,630 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Qiagen by 44.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 41,397 shares of the company’s stock valued at $1,426,000 after buying an additional 12,792 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Qiagen by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 584,780 shares of the company’s stock valued at $20,145,000 after buying an additional 47,932 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Qiagen in the 4th quarter valued at $1,854,000. Finally, Millennium Management LLC increased its position in shares of Qiagen by 172.7% in the 4th quarter. Millennium Management LLC now owns 650,831 shares of the company’s stock valued at $22,421,000 after buying an additional 412,211 shares in the last quarter. 63.19% of the stock is currently owned by hedge funds and other institutional investors.

About Qiagen

QIAGEN N.V. provides sample to insight solutions that transform biological materials into molecular insights worldwide. The company offers sample technologies for plasmid deoxyribonucleic acid (DNA) purification, ribonucleic acid purification and stabilization, genomic and viral nucleic acid purification, DNA cleanup after polymerase chain reaction (PCR) and sequencing, target enrichment, and library preparation for sequencing applications; and assay technology solutions.

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