Goldman Sachs Group Reaffirms “Buy” Rating for Qiagen (NYSE:QGEN)

Goldman Sachs Group reissued their buy rating on shares of Qiagen (NYSE:QGEN) in a research report report published on Thursday, Borsen Zeitung reports.

QGEN has been the subject of a number of other reports. Barclays increased their price objective on shares of Qiagen from $43.00 to $45.00 and gave the stock an overweight rating in a research note on Friday, June 21st. Zacks Investment Research raised shares of Qiagen from a sell rating to a buy rating and set a $45.00 price objective for the company in a research note on Tuesday, April 16th. Berenberg Bank reissued a buy rating and issued a $40.00 price objective on shares of Qiagen in a research note on Friday, July 26th. DZ Bank reissued a neutral rating on shares of Qiagen in a research note on Wednesday, July 24th. Finally, Wolfe Research began coverage on shares of Qiagen in a research note on Thursday, May 30th. They issued a peer perform rating for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $42.83.

QGEN stock traded down $0.03 during midday trading on Thursday, reaching $37.19. 1,160,623 shares of the company’s stock traded hands, compared to its average volume of 790,260. Qiagen has a 52-week low of $32.33 and a 52-week high of $41.55. The company has a market cap of $8.39 billion, a PE ratio of 27.75, a P/E/G ratio of 2.31 and a beta of 0.83. The company has a current ratio of 1.69, a quick ratio of 1.52 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average is $39.72.

Qiagen (NYSE:QGEN) last announced its earnings results on Wednesday, July 24th. The company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). Qiagen had a net margin of 12.94% and a return on equity of 12.15%. The business had revenue of $381.60 million for the quarter, compared to analysts’ expectations of $386.37 million. During the same period in the prior year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Qiagen will post 1.42 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Qiagen by 44.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 41,397 shares of the company’s stock worth $1,426,000 after acquiring an additional 12,792 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Qiagen by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 584,780 shares of the company’s stock worth $20,145,000 after acquiring an additional 47,932 shares in the last quarter. Macquarie Group Ltd. bought a new position in Qiagen during the fourth quarter worth about $1,854,000. American Century Companies Inc. lifted its holdings in Qiagen by 111.7% during the fourth quarter. American Century Companies Inc. now owns 995,508 shares of the company’s stock worth $34,295,000 after acquiring an additional 525,268 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Qiagen by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 23,913 shares of the company’s stock worth $972,000 after acquiring an additional 366 shares in the last quarter. 63.20% of the stock is owned by hedge funds and other institutional investors.

Qiagen Company Profile

QIAGEN N.V. provides sample to insight solutions that transform biological materials into molecular insights worldwide. The company offers sample technologies for plasmid deoxyribonucleic acid (DNA) purification, ribonucleic acid purification and stabilization, genomic and viral nucleic acid purification, DNA cleanup after polymerase chain reaction (PCR) and sequencing, target enrichment, and library preparation for sequencing applications; and assay technology solutions.

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Analyst Recommendations for Qiagen (NYSE:QGEN)

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