Qiagen (NYSE:QGEN) Issues Quarterly Earnings Results

Qiagen (NYSE:QGEN) posted its earnings results on Monday. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02, RTT News reports. Qiagen had a net margin of 17.37% and a return on equity of 12.99%. The firm had revenue of $459.00 million during the quarter, compared to the consensus estimate of $453.91 million. During the same period last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Qiagen updated its FY24 guidance to at least $2.10 EPS and its FY 2024 guidance to 2.100- EPS.

Qiagen Trading Down 1.8 %

Shares of QGEN stock traded down $0.75 during mid-day trading on Tuesday, hitting $41.55. 259,609 shares of the company’s stock were exchanged, compared to its average volume of 1,195,783. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.51 and a beta of 0.41. The company has a quick ratio of 1.62, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. Qiagen has a fifty-two week low of $34.74 and a fifty-two week high of $47.70. The stock has a 50-day simple moving average of $42.57 and a two-hundred day simple moving average of $42.69.

Wall Street Analyst Weigh In

QGEN has been the subject of several research reports. Morgan Stanley upgraded Qiagen from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $49.48 to $51.00 in a research report on Friday, February 16th. Citigroup dropped their price target on Qiagen from $61.86 to $60.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their price objective on Qiagen from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.69.

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.