Bridgefront Capital LLC Takes Position in Qiagen N.V. $QGEN

Bridgefront Capital LLC bought a new position in shares of Qiagen N.V. (NYSE:QGEN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,650 shares of the company’s stock, valued at approximately $610,000.

Several other hedge funds and other institutional investors have also modified their holdings of QGEN. Smartleaf Asset Management LLC grew its stake in Qiagen by 1,383.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 890 shares of the company’s stock valued at $39,000 after buying an additional 830 shares during the last quarter. MAI Capital Management lifted its position in Qiagen by 998.9% during the second quarter. MAI Capital Management now owns 978 shares of the company’s stock worth $47,000 after acquiring an additional 889 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Qiagen by 260.1% during the second quarter. Allworth Financial LP now owns 1,102 shares of the company’s stock worth $53,000 after acquiring an additional 796 shares during the period. GAMMA Investing LLC grew its position in shares of Qiagen by 375.5% in the third quarter. GAMMA Investing LLC now owns 1,241 shares of the company’s stock valued at $55,000 after purchasing an additional 980 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Qiagen by 64.0% in the third quarter. Jones Financial Companies Lllp now owns 1,610 shares of the company’s stock valued at $71,000 after purchasing an additional 628 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on QGEN shares. Stifel Nicolaus set a $50.00 target price on Qiagen and gave the stock a “hold” rating in a research note on Friday, February 6th. Zacks Research lowered Qiagen from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Barclays set a $58.00 price objective on Qiagen and gave the stock an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Qiagen in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Qiagen from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Qiagen currently has a consensus rating of “Hold” and an average price target of $55.20.

Qiagen Stock Down 1.3%

Shares of QGEN opened at $40.59 on Monday. The company has a current ratio of 3.90, a quick ratio of 3.31 and a debt-to-equity ratio of 0.44. Qiagen N.V. has a 12 month low of $40.14 and a 12 month high of $57.81. The firm’s 50 day moving average is $49.32 and its 200-day moving average is $48.83. The stock has a market capitalization of $8.57 billion, a PE ratio of 20.13, a P/E/G ratio of 1.98 and a beta of 0.70.

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, beating the consensus estimate of $0.61 by $0.01. The business had revenue of $540.42 million during the quarter, compared to analysts’ expectations of $528.53 million. Qiagen had a return on equity of 14.56% and a net margin of 20.33%.The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. Equities research analysts forecast that Qiagen N.V. will post 2.26 EPS for the current 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.