Q2 2024 EPS Estimates for Qiagen Reduced by Zacks Research (NYSE:QGEN)

Qiagen (NYSE:QGEN) – Stock analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for shares of Qiagen in a note issued to investors on Monday, April 29th. Zacks Research analyst M. Mondal now forecasts that the company will earn $0.51 per share for the quarter, down from their previous forecast of $0.52. The consensus estimate for Qiagen’s current full-year earnings is $2.09 per share. Zacks Research also issued estimates for Qiagen’s Q3 2024 earnings at $0.52 EPS, FY2024 earnings at $2.07 EPS, Q1 2025 earnings at $0.50 EPS, Q2 2025 earnings at $0.57 EPS, FY2025 earnings at $2.22 EPS, Q1 2026 earnings at $0.56 EPS and FY2026 earnings at $2.45 EPS.

Several other equities analysts have also commented on QGEN. Citigroup dropped their price target on shares of Qiagen from $61.86 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Morgan Stanley upgraded shares of Qiagen from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $49.48 to $51.00 in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Qiagen from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.69.

Qiagen Price Performance

Shares of NYSE QGEN opened at $42.32 on Tuesday. The stock’s 50-day simple moving average is $42.57 and its 200-day simple moving average is $42.69. The firm has a market capitalization of $9.66 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 3.51 and a beta of 0.41. Qiagen has a fifty-two week low of $34.74 and a fifty-two week high of $47.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.62 and a current ratio of 1.99.

Qiagen (NYSE:QGEN) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $500.77 million. Qiagen had a return on equity of 12.99% and a net margin of 17.37%. During the same period in the prior year, the firm earned $0.53 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Qiagen during the 1st quarter worth approximately $28,000. Briaud Financial Planning Inc purchased a new stake in shares of Qiagen in the third quarter valued at approximately $31,000. Tower Research Capital LLC TRC grew its holdings in Qiagen by 66.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 283 shares during the period. Park Place Capital Corp acquired a new stake in Qiagen in the first quarter valued at $36,000. Finally, Quarry LP purchased a new stake in shares of Qiagen during the 4th quarter worth $38,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.