Zacks Research Weighs in on Qiagen’s Q2 2024 Earnings (NYSE:QGEN)

Qiagen (NYSE:QGEN) – Stock analysts at Zacks Research reduced their Q2 2024 EPS estimates for Qiagen in a research note issued to investors on Monday, April 29th. Zacks Research analyst M. Mondal now anticipates that the company will post earnings of $0.51 per share for the quarter, down from their prior estimate 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.

Qiagen (NYSE:QGEN) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. Qiagen had a net margin of 17.38% and a return on equity of 12.50%. The company had revenue of $459.00 million for the quarter, compared to the consensus estimate of $453.91 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue was down 5.4% compared to the same quarter last year.

Several other analysts have also weighed in on the company. Stifel Nicolaus decreased their price objective on Qiagen from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Qiagen from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Citigroup decreased their price objective on Qiagen from $61.86 to $60.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Finally, Morgan Stanley raised Qiagen from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $49.48 to $51.00 in a research note on Friday, February 16th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Qiagen presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.95.

Qiagen Price Performance

Shares of NYSE:QGEN opened at $42.81 on Tuesday. Qiagen has a 1-year low of $34.74 and a 1-year high of $47.70. The firm has a market capitalization of $9.77 billion, a PE ratio of 28.71, a PEG ratio of 3.58 and a beta of 0.41. The business’s 50 day moving average is $42.56 and its 200-day moving average is $42.71. The company has a current ratio of 1.99, a quick ratio of 1.62 and a debt-to-equity ratio of 0.24.

Hedge Funds Weigh In On Qiagen

Several institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in Qiagen by 8.1% in 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 purchasing an additional 1,809,486 shares during the last quarter. Vanguard Group Inc. raised its position in Qiagen by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 8,815,467 shares of the company’s stock valued at $382,856,000 after purchasing an additional 83,371 shares during the last quarter. Wellington Management Group LLP raised its position in Qiagen by 20.1% in the 4th quarter. Wellington Management Group LLP now owns 7,271,828 shares of the company’s stock valued at $316,463,000 after purchasing an additional 1,217,712 shares during the last quarter. Norges Bank bought a new position in Qiagen in the 4th quarter valued at $264,322,000. Finally, FIL Ltd raised its position in Qiagen by 8.5% in the 4th quarter. FIL Ltd now owns 5,099,140 shares of the company’s stock valued at $221,784,000 after purchasing an additional 399,965 shares during the last quarter. 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.