Q1 2024 EPS Estimates for Qiagen Increased by William Blair (NYSE:QGEN)

Qiagen (NYSE:QGEN – Get Rating) – Investment analysts at William Blair increased their Q1 2024 earnings estimates for shares of Qiagen in a research report issued on Thursday, May 4th. William Blair analyst A. Brackmann now anticipates that the company will post earnings of $0.51 per share for the quarter, up from their prior forecast of $0.49. The consensus estimate for Qiagen’s current full-year earnings is $2.11 per share. William Blair also issued estimates for Qiagen’s Q2 2024 earnings at $0.51 EPS and Q3 2024 earnings at $0.56 EPS.

Qiagen (NYSE:QGEN – Get Rating) last released its earnings results on Wednesday, May 3rd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. Qiagen had a net margin of 17.66% and a return on equity of 14.29%. The company had revenue of $485.40 million during the quarter, compared to the consensus estimate of $478.23 million. During the same quarter in the previous year, the firm earned $0.80 EPS. The company’s revenue was down 22.8% on a year-over-year basis.

Several other research analysts have also recently commented on QGEN. StockNews.com assumed coverage on shares of Qiagen in a research report on Thursday, March 16th. They issued a “buy” rating for the company. Citigroup upped their price target on shares of Qiagen from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Finally, UBS Group reduced their price target on shares of Qiagen from $52.00 to $50.00 in a research note on Friday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Qiagen has a consensus rating of “Hold” and a consensus price target of $54.87.

Qiagen Price Performance

NYSE QGEN opened at $45.98 on Monday. Qiagen has a 52 week low of $40.38 and a 52 week high of $51.18. The company has a current ratio of 2.46, a quick ratio of 2.09 and a debt-to-equity ratio of 0.42. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 8.46 and a beta of 0.39. The company has a 50-day moving average price of $45.71 and a two-hundred day moving average price of $47.53.

Institutional Trading of Qiagen

Several institutional investors and hedge funds have recently added to or reduced their stakes in QGEN. Daiwa Securities Group Inc. acquired a new stake in Qiagen during the third quarter valued at approximately $32,000. Wipfli Financial Advisors LLC acquired a new stake in shares of Qiagen during the third quarter valued at approximately $36,000. CWM LLC raised its holdings in shares of Qiagen by 314.4% during the third quarter. CWM LLC now owns 866 shares of the company’s stock valued at $36,000 after acquiring an additional 657 shares during the period. Assetmark Inc. raised its holdings in shares of Qiagen by 41.6% during the first quarter. Assetmark Inc. now owns 834 shares of the company’s stock valued at $38,000 after acquiring an additional 245 shares during the period. Finally, IFP Advisors Inc increased its stake in Qiagen by 133.0% in the 3rd quarter. IFP Advisors Inc now owns 755 shares of the company’s stock valued at $41,000 after buying an additional 431 shares during the period. 58.62% of the stock is owned by institutional investors and hedge funds.

Qiagen Company Profile

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QIAGEN NV is a holding company, which engages in the provision of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. The company sample technologies isolate and process DNA, RNA, and proteins from blood, tissue, and other materials.