Analysts Offer Predictions for Qiagen’s FY2024 Earnings (NYSE:QGEN)

Qiagen (NYSE:QGEN) – Investment analysts at William Blair raised their FY2024 earnings estimates for Qiagen in a research report issued on Wednesday, August 7th. William Blair analyst A. Brackmann now expects that the company will earn $2.14 per share for the year, up from their prior forecast of $2.09. The consensus estimate for Qiagen’s current full-year earnings is $2.15 per share.

Qiagen (NYSE:QGEN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Qiagen had a net margin of 3.75% and a return on equity of 12.92%. The firm had revenue of $496.00 million during the quarter, compared to the consensus estimate of $495.45 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year.

QGEN has been the topic of several other research reports. Robert W. Baird boosted their target price on shares of Qiagen from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Qiagen from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Wolfe Research upgraded shares of Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Thursday, June 27th. Finally, Stifel Nicolaus reduced their price objective on Qiagen from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.10.

Qiagen Stock Performance

NYSE QGEN traded down $0.09 on Thursday, reaching $45.42. 847,455 shares of the stock were exchanged, compared to its average volume of 1,245,056. The firm has a market capitalization of $10.36 billion, a PE ratio of 30.46, a PEG ratio of 3.19 and a beta of 0.40. Qiagen has a one year low of $34.74 and a one year high of $46.55. The company’s 50-day simple moving average is $42.85 and its two-hundred day simple moving average is $43.06. The company has a current ratio of 1.77, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Qiagen by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 8,815,467 shares of the company’s stock worth $382,856,000 after purchasing an additional 83,371 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Qiagen by 0.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,481,873 shares of the company’s stock worth $151,526,000 after acquiring an additional 26,078 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Qiagen by 8.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,066,569 shares of the company’s stock valued at $1,045,211,000 after purchasing an additional 1,809,486 shares in the last quarter. Optiver Holding B.V. raised its position in shares of Qiagen by 1,211.4% during the 4th quarter. Optiver Holding B.V. now owns 47,212 shares of the company’s stock worth $2,050,000 after purchasing an additional 43,612 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Qiagen by 49.0% in the 4th quarter. Sei Investments Co. now owns 1,196,476 shares of the company’s stock valued at $51,963,000 after buying an additional 393,553 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Qiagen Company Profile

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.