Q2 2024 Earnings Forecast for Qiagen (NYSE:QGEN) Issued By Zacks Research

Qiagen (NYSE:QGEN) – Investment analysts at Zacks Research increased their Q2 2024 earnings per share (EPS) estimates for shares of Qiagen in a report issued on Monday, May 20th. Zacks Research analyst M. Mondal now expects that the company will post earnings per share of $0.52 for the quarter, up from their previous forecast of $0.51. The consensus estimate for Qiagen’s current full-year earnings is $2.09 per share. Zacks Research also issued estimates for Qiagen’s FY2024 earnings at $2.10 EPS, Q3 2025 earnings at $0.58 EPS and FY2025 earnings at $2.23 EPS.

QGEN has been the topic of a number of other research reports. Citigroup reduced their price target on Qiagen from $61.86 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Stifel Nicolaus reduced their target price on Qiagen from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on Qiagen from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, Morgan Stanley upgraded shares of Qiagen from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $49.48 to $51.00 in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Qiagen has a consensus rating of “Moderate Buy” and an average target price of $50.95.

Qiagen Stock Down 0.8 %

Shares of QGEN opened at $43.17 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. Qiagen has a 12 month low of $34.74 and a 12 month high of $47.70. The firm’s 50 day moving average is $42.62 and its 200-day moving average is $43.28. The stock has a market capitalization of $9.85 billion, a PE ratio of 28.95, a P/E/G ratio of 3.80 and a beta of 0.42.

Qiagen (NYSE:QGEN) last released its quarterly earnings results on Monday, April 29th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $459.00 million for the quarter, compared to the consensus estimate of $453.91 million. Qiagen had a net margin of 17.38% and a return on equity of 12.59%. Qiagen’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of Qiagen by 8.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,066,569 shares of the company’s stock valued at $1,045,211,000 after acquiring an additional 1,809,486 shares in the last quarter. New York Life Investment Management LLC increased its stake in shares of Qiagen by 6.8% in the fourth quarter. New York Life Investment Management LLC now owns 25,860 shares of the company’s stock valued at $1,123,000 after buying an additional 1,646 shares during the period. Quadrant Capital Group LLC raised its holdings in Qiagen by 33.5% in the 4th quarter. Quadrant Capital Group LLC now owns 6,027 shares of the company’s stock valued at $262,000 after buying an additional 1,513 shares during the last quarter. Xponance Inc. raised its holdings in Qiagen by 2.7% in the 4th quarter. Xponance Inc. now owns 9,609 shares of the company’s stock valued at $417,000 after buying an additional 253 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Qiagen during the 4th quarter worth approximately $1,823,000. 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.