Janney Montgomery Scott LLC Acquires 2,345 Shares of Qiagen (NYSE:QGEN)

Janney Montgomery Scott LLC lifted its holdings in Qiagen (NYSE:QGEN) by 40.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,130 shares of the company’s stock after acquiring an additional 2,345 shares during the period. Janney Montgomery Scott LLC’s holdings in Qiagen were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. National Bank of Canada FI increased its position in Qiagen by 32.2% in the 2nd quarter. National Bank of Canada FI now owns 81,645 shares of the company’s stock valued at $3,681,000 after buying an additional 19,873 shares in the last quarter. Fifth Third Bancorp increased its position in Qiagen by 51,373.9% in the 2nd quarter. Fifth Third Bancorp now owns 35,517 shares of the company’s stock valued at $1,599,000 after buying an additional 35,448 shares in the last quarter. Raymond James & Associates increased its holdings in Qiagen by 0.4% during the 2nd quarter. Raymond James & Associates now owns 143,522 shares of the company’s stock worth $6,463,000 after purchasing an additional 587 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Qiagen by 14.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,307,865 shares of the company’s stock worth $147,357,000 after purchasing an additional 421,535 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in Qiagen by 3.1% during the 2nd quarter. Vontobel Holding Ltd. now owns 52,304 shares of the company’s stock worth $2,348,000 after purchasing an additional 1,561 shares in the last quarter. 57.99% of the stock is owned by institutional investors.

Qiagen Price Performance

Qiagen stock opened at $37.86 on Thursday. Qiagen has a 12 month low of $34.74 and a 12 month high of $51.18. The company has a current ratio of 2.36, a quick ratio of 1.96 and a debt-to-equity ratio of 0.38. The business’s 50 day simple moving average is $40.44 and its 200 day simple moving average is $43.63. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.16 and a beta of 0.40.

Qiagen (NYSE:QGEN) last posted its quarterly earnings data on Monday, October 30th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. Qiagen had a return on equity of 13.29% and a net margin of 17.01%. The business had revenue of $476.00 million for the quarter, compared to the consensus estimate of $469.79 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. Qiagen’s revenue for the quarter was down 4.8% on a year-over-year basis. Sell-side analysts forecast that Qiagen will post 2.07 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on QGEN. UBS Group decreased their price objective on Qiagen from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. TheStreet lowered Qiagen from a “b-” rating to a “c+” rating in a report on Thursday, September 14th. HSBC cut their target price on Qiagen from $64.00 to $57.00 in a research note on Friday, September 29th. JPMorgan Chase & Co. cut their target price on Qiagen from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Finally, Citigroup restated a “buy” rating and issued a $60.00 target price on shares of Qiagen in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Qiagen currently has an average rating of “Moderate Buy” and an average price target of $53.27.

About Qiagen

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.