Qiagen (NYSE:QGEN) Price Target Raised to $52.00

Qiagen (NYSE:QGEN) had its target price hoisted by Robert W. Baird from $49.00 to $52.00 in a research report report published on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. Stifel Nicolaus decreased their target price on Qiagen from $55.00 to $45.00 and set a hold rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on Qiagen from $52.00 to $54.00 and gave the stock an overweight rating in a research report on Tuesday, June 18th. Finally, Wolfe Research upgraded Qiagen from a peer perform rating to an outperform rating and set a $50.00 target price for the company in a research report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $51.10.

Qiagen Price Performance

Shares of QGEN stock traded up $0.49 on Friday, reaching $46.29. The company’s stock had a trading volume of 1,285,612 shares, compared to its average volume of 1,219,027. The stock’s fifty day simple moving average is $42.65 and its 200-day simple moving average is $43.10. Qiagen has a 1 year low of $34.74 and a 1 year high of $46.85. The company has a current ratio of 1.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 3.49 and a beta of 0.40.

Qiagen (NYSE:QGEN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $496.00 million during the quarter, compared to the consensus estimate of $495.45 million. Qiagen had a return on equity of 12.67% and a net margin of 3.75%. Qiagen’s revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. Analysts forecast that Qiagen will post 2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Qiagen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates grew its holdings in shares of Qiagen by 39.4% during the 4th quarter. Raymond James & Associates now owns 200,077 shares of the company’s stock worth $8,689,000 after purchasing an additional 56,522 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Qiagen by 33,220.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,345,488 shares of the company’s stock worth $58,435,000 after acquiring an additional 1,341,450 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Qiagen by 2.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 18,499 shares of the company’s stock worth $803,000 after acquiring an additional 461 shares in the last quarter. Cerity Partners LLC acquired a new position in Qiagen during the 4th quarter worth about $220,000. Finally, Vontobel Holding Ltd. lifted its stake in Qiagen by 56.9% during the 4th quarter. Vontobel Holding Ltd. now owns 63,243 shares of the company’s stock worth $2,751,000 after acquiring an additional 22,933 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.