Qiagen (NYSE:QGEN) PT Lowered to $45.00

Qiagen (NYSE:QGEN) had its price target lowered by Stifel Nicolaus from $55.00 to $45.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Qiagen from $50.00 to $52.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Morgan Stanley raised shares of Qiagen from an equal weight rating to an overweight rating and boosted their price objective for the company from $49.48 to $51.00 in a report on Friday, February 16th. Finally, Citigroup cut their target price 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $50.95.

Qiagen Price Performance

Shares of QGEN stock opened at $42.98 on Wednesday. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 3.62 and a beta of 0.42. The company has a current ratio of 1.99, a quick ratio of 1.62 and a debt-to-equity ratio of 0.24. Qiagen has a twelve month low of $34.74 and a twelve month high of $47.70. The stock has a fifty day simple moving average of $42.53 and a two-hundred day simple moving average of $42.73.

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

Institutional Investors Weigh In On Qiagen

Several hedge funds have recently bought and sold shares of QGEN. Mediolanum International Funds Ltd acquired a new stake in shares of Qiagen during the 1st quarter valued at about $974,000. Jennison Associates LLC grew its holdings in Qiagen by 5.1% in the first quarter. Jennison Associates LLC now owns 1,374,507 shares of the company’s stock valued at $59,090,000 after purchasing an additional 66,203 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Qiagen by 18.3% in the first quarter. Janney Montgomery Scott LLC now owns 7,433 shares of the company’s stock valued at $320,000 after buying an additional 1,151 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Qiagen by 14.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,756,271 shares of the company’s stock worth $75,502,000 after buying an additional 222,248 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Qiagen by 97.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 263,016 shares of the company’s stock valued at $11,900,000 after buying an additional 130,006 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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.