UBS Group Forecasts Strong Price Appreciation for Qiagen (NYSE:QGEN) Stock

Qiagen (NYSE:QGEN) had its target price lifted by analysts at UBS Group from $48.00 to $50.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s target price would suggest a potential upside of 0.02% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. cut Qiagen from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $52.00 in a research note on Thursday, October 22nd. Jefferies Financial Group restated a “buy” rating and set a $48.00 price target on shares of Qiagen in a research report on Thursday, August 6th. Citigroup restated a “neutral” rating and set a $52.00 price target (up from $45.00) on shares of Qiagen in a research report on Monday, October 26th. Robert W. Baird increased their target price on shares of Qiagen from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. Finally, DZ Bank lowered shares of Qiagen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 22nd. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.34.

Qiagen Stock Performance

Shares of QGEN traded down $0.11 on Friday, reaching $49.99. 722,745 shares of the company’s stock traded hands, compared to its average volume of 2,842,978. The company has a current ratio of 2.63, a quick ratio of 2.31 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.30 billion, a PE ratio of 27.32, a PEG ratio of 4.03 and a beta of 0.56. The stock’s 50 day simple moving average is $46.39 and its two-hundred day simple moving average is $42.67. Qiagen has a 52-week low of $32.53 and a 52-week high of $57.81.

Qiagen (NYSE:QGEN) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Qiagen had a return on equity of 14.70% and a net margin of 18.19%. The business had revenue of $547.87 million for the quarter, compared to analysts’ expectations of $538.61 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that Qiagen will post 2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Qiagen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its stake in shares of Qiagen by 107.7% in the second quarter. Engineers Gate Manager LP now owns 74,567 shares of the company’s stock worth $2,916,000 after purchasing an additional 38,658 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Qiagen in the first quarter valued at approximately $2,518,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Qiagen during the 1st quarter valued at approximately $1,368,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Qiagen during the 2nd quarter valued at approximately $2,836,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Qiagen during the 2nd quarter valued at approximately $1,423,000. 70.00% of the stock is currently owned by institutional investors.

About Qiagen

QIAGEN is a life sciences company that develops technologies used to prepare and analyze biological samples. Its products help researchers and clinicians extract and process DNA, RNA and proteins from samples such as blood, tissue and other biological materials. The company offers laboratory consumables, instruments and software for molecular diagnostics and life sciences research, as well as applications in pharmaceutical research and applied testing. Its portfolio includes sample-preparation kits, molecular testing assays and platforms for PCR, digital PCR and next-generation sequencing.