Envestnet Asset Management Inc. Makes New Investment in QIAGEN N.V. (NYSE:QGEN)

Envestnet Asset Management Inc. purchased a new stake in QIAGEN N.V. (NYSE:QGEN) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 336,095 shares of the company’s stock, valued at approximately $13,463,000. Envestnet Asset Management Inc. owned approximately 0.15% of QIAGEN as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in shares of QIAGEN during the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its stake in QIAGEN by 152.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $39,000 after purchasing an additional 526 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of QIAGEN by 770.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,490 shares of the company’s stock valued at $111,000 after buying an additional 2,204 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of QIAGEN by 93.9% in the first quarter. GAMMA Investing LLC now owns 2,943 shares of the company’s stock worth $118,000 after buying an additional 1,425 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of QIAGEN in the fourth quarter worth about $202,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QGEN has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of QIAGEN from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Barclays initiated coverage on QIAGEN in a report on Tuesday, June 24th. They issued an “overweight” rating and a $55.00 price objective for the company. Wall Street Zen raised QIAGEN from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 15th. Redburn Atlantic downgraded QIAGEN from a “buy” rating to a “neutral” rating in a report on Friday, April 4th. Finally, Bank of America lifted their price target on QIAGEN from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QIAGEN presently has an average rating of “Hold” and a consensus target price of $49.40.

QIAGEN Stock Up 0.2%

QGEN opened at $48.35 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.37 and a quick ratio of 2.83. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of 121.23, a price-to-earnings-growth ratio of 2.45 and a beta of 0.68. The business has a 50-day moving average of $45.95 and a two-hundred day moving average of $42.98. QIAGEN N.V. has a 12 month low of $37.63 and a 12 month high of $49.30.

QIAGEN (NYSE:QGEN) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. QIAGEN had a return on equity of 14.61% and a net margin of 4.68%. The company had revenue of $483.46 million during the quarter, compared to analysts’ expectations of $465.66 million. During the same quarter in the previous year, the business earned $0.44 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that QIAGEN N.V. will post 2.26 earnings per share for the current year.

QIAGEN Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.25 per share. This represents a dividend yield of 0.52%. The ex-dividend date was Wednesday, July 2nd. QIAGEN’s payout ratio is currently 62.50%.

QIAGEN Company Profile

QIAGEN NV is a holding company, which engages in the provision of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. The company sample technologies isolate and process DNA, RNA, and proteins from blood, tissue, and other materials.