Qiagen (NYSE:QGEN) Issues FY 2024 Earnings Guidance

Qiagen (NYSE:QGEN) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 2.100- for the period, compared to the consensus EPS estimate of 2.110. The company issued revenue guidance of $2.0 billion-, compared to the consensus revenue estimate of $2.0 billion. Qiagen also updated its FY24 guidance to at least $2.10 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on QGEN shares. Stifel Nicolaus reduced their target price on Qiagen from $55.00 to $45.00 and set a hold rating for the company in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Qiagen from $50.00 to $52.00 and gave the company an overweight rating in a report on Thursday, February 8th. Morgan Stanley raised Qiagen from an equal weight rating to an overweight rating and upped their price target for the company from $49.48 to $51.00 in a research report on Friday, February 16th. Finally, Citigroup dropped their price target on Qiagen from $61.86 to $60.00 and set a buy rating on the stock in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $50.95.

Qiagen Price Performance

QGEN stock traded up $0.23 during trading on Wednesday, hitting $42.56. The company had a trading volume of 279,337 shares, compared to its average volume of 1,213,685. The company has a fifty day moving average price of $42.56 and a two-hundred day moving average price of $42.71. The company has a current ratio of 1.99, a quick ratio of 1.62 and a debt-to-equity ratio of 0.24. The company has a market cap of $9.71 billion, a P/E ratio of 28.38, a P/E/G ratio of 3.58 and a beta of 0.41. Qiagen has a fifty-two week low of $34.74 and a fifty-two week high of $47.70.

Qiagen (NYSE:QGEN) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $459.00 million for the quarter, compared to analyst estimates of $453.91 million. Qiagen had a return on equity of 12.50% and a net margin of 17.38%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Equities research analysts expect that Qiagen will post 2.09 earnings per share for the current fiscal year.

Qiagen Company Profile

QIAGEN N.V. offers sample to insight solutions that transform biological materials into molecular insights worldwide. The company provides primary sample technology consumables, such as nucleic stabilization and purification kits for primary sample materials, manual and automated processing for genotyping, gene expression, and viral and bacterial analysis, as well as silica membranes and magnetic bead technologies; secondary sample technology consumables, including kits and components for purification of nucleic acids from secondary sample materials; and instruments for nucleic acid purification and accessories.