Capital Group Private Client Services Inc. Reduces Stock Position in Qiagen N.V. $QGEN

Capital Group Private Client Services Inc. cut its holdings in Qiagen N.V. (NYSE:QGEN) by 70.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,534 shares of the company’s stock after selling 205,198 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Qiagen were worth $3,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Atria Investments Inc grew its position in shares of Qiagen by 2.9% in the 2nd quarter. Atria Investments Inc now owns 7,674 shares of the company’s stock worth $369,000 after buying an additional 218 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Qiagen by 0.4% during the third quarter. Johnson Investment Counsel Inc. now owns 57,359 shares of the company’s stock valued at $2,563,000 after acquiring an additional 240 shares in the last quarter. Bessemer Group Inc. lifted its stake in Qiagen by 0.5% in the third quarter. Bessemer Group Inc. now owns 51,780 shares of the company’s stock worth $2,288,000 after acquiring an additional 262 shares during the period. Covestor Ltd lifted its stake in Qiagen by 13.6% in the third quarter. Covestor Ltd now owns 3,007 shares of the company’s stock worth $134,000 after acquiring an additional 361 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Qiagen by 7.1% in the third quarter. Private Advisor Group LLC now owns 5,730 shares of the company’s stock valued at $256,000 after acquiring an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

QGEN has been the topic of a number of research analyst reports. UBS Group set a $52.00 price objective on shares of Qiagen in a research report on Monday, February 9th. Citigroup cut their target price on shares of Qiagen from $55.40 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Wall Street Zen upgraded shares of Qiagen from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Jefferies Financial Group reissued a “buy” rating and issued a $59.00 price target on shares of Qiagen in a research note on Thursday, February 5th. Finally, Robert W. Baird set a $53.00 price objective on shares of Qiagen in a report on Friday, February 6th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.20.

Qiagen Stock Performance

Shares of QGEN stock opened at $43.01 on Wednesday. Qiagen N.V. has a 12 month low of $40.14 and a 12 month high of $57.81. The stock has a market cap of $9.08 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 2.11 and a beta of 0.70. The company has a current ratio of 3.90, a quick ratio of 3.31 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average price is $49.70 and its 200-day moving average price is $49.05.

Qiagen (NYSE:QGEN) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $540.42 million during the quarter, compared to analyst estimates of $528.53 million. Qiagen had a net margin of 20.33% and a return on equity of 14.56%. Qiagen’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. On average, equities analysts expect that Qiagen N.V. will post 2.26 EPS for the current fiscal year.

About Qiagen

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.