Qiagen (NYSE:QGEN) Shares Set to Reverse Split on Thursday, January 8th

Qiagen N.V. (NYSE:QGEN)’s stock is going to reverse split before the market opens on Thursday, January 8th. The 19-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, January 7th.

Qiagen Price Performance

QGEN stock opened at $45.30 on Friday. The company has a market capitalization of $10.07 billion, a PE ratio of 24.62, a P/E/G ratio of 2.32 and a beta of 0.68. The company has a quick ratio of 2.30, a current ratio of 2.60 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $46.10 and its two-hundred day moving average is $47.10. Qiagen has a 52-week low of $37.63 and a 52-week high of $51.88.

Qiagen (NYSE:QGEN) last released its earnings results on Thursday, November 6th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $532.58 million during the quarter, compared to analysts’ expectations of $525.68 million. Qiagen had a return on equity of 14.80% and a net margin of 19.58%.The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. Analysts predict that Qiagen will post 2.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on QGEN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qiagen in a research report on Monday. Citigroup downgraded Qiagen from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $50.00 in a report on Thursday, December 11th. Wall Street Zen upgraded Qiagen from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Finally, Barclays reissued an “overweight” rating and set a $55.00 price target (up from $53.00) on shares of Qiagen in a research report on Monday, December 15th. Two analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $49.61.

Hedge Funds Weigh In On Qiagen

Several hedge funds and other institutional investors have recently modified their holdings of QGEN. Danske Bank A S bought a new position in shares of Qiagen during the third quarter worth about $36,000. Smartleaf Asset Management LLC boosted its stake in Qiagen by 1,383.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 890 shares of the company’s stock valued at $39,000 after purchasing an additional 830 shares during the period. MAI Capital Management grew its position in Qiagen by 998.9% in the 2nd quarter. MAI Capital Management now owns 978 shares of the company’s stock worth $47,000 after purchasing an additional 889 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Qiagen by 400.5% in the second quarter. Farther Finance Advisors LLC now owns 1,061 shares of the company’s stock valued at $51,000 after purchasing an additional 849 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Qiagen by 260.1% in the second quarter. Allworth Financial LP now owns 1,102 shares of the company’s stock valued at $53,000 after purchasing an additional 796 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Qiagen Company Profile

Qiagen NV (NYSE: QGEN) is a global provider of sample and assay technologies designed to enable molecular testing in the fields of molecular diagnostics, applied testing, academic research and pharmaceutical development. The company’s solutions span the full workflow of nucleic acid and protein analysis, offering customers standardized kits, instruments and software tools that streamline the preparation, detection and quantification of DNA, RNA and proteins.

The company’s product portfolio includes nucleic acid extraction and purification systems, polymerase chain reaction (PCR) reagents and instrumentation, digital PCR platforms, next-generation sequencing (NGS) library‐preparation kits and proteomics solutions.