American International Group Inc. Acquires New Stake in Qiagen NV (QGEN)
American International Group Inc. acquired a new position in Qiagen NV (NASDAQ:QGEN) in the fourth quarter, HoldingsChannel reports. The fund acquired 4,980 shares of the company’s stock, valued at approximately $154,000.
Several other institutional investors have also recently modified their holdings of QGEN. Stevens Capital Management LP acquired a new position in shares of Qiagen in the third quarter worth about $1,120,000. Sei Investments Co. increased its stake in shares of Qiagen by 37.5% during the third quarter. Sei Investments Co. now owns 242,613 shares of the company’s stock worth $7,642,000 after purchasing an additional 66,194 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Qiagen by 1.6% during the third quarter. New York State Common Retirement Fund now owns 501,947 shares of the company’s stock worth $15,811,000 after purchasing an additional 8,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Qiagen by 16.5% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 633,300 shares of the company’s stock worth $19,949,000 after purchasing an additional 89,491 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Qiagen by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 1,289,162 shares of the company’s stock worth $40,608,000 after purchasing an additional 22,587 shares in the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.
A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of Qiagen from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Evercore ISI assumed coverage on shares of Qiagen in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $35.00 target price for the company. Morgan Stanley boosted their target price on shares of Qiagen from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Goldman Sachs Group assumed coverage on shares of Qiagen in a research note on Monday, January 29th. They set a “buy” rating and a $39.00 target price for the company. Finally, BidaskClub cut shares of Qiagen from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $35.33.
Qiagen (NASDAQ:QGEN) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. Qiagen had a net margin of 2.85% and a return on equity of 11.74%. The company had revenue of $396.86 million during the quarter, compared to analysts’ expectations of $394.48 million. equities analysts expect that Qiagen NV will post 1.34 earnings per share for the current year.
Qiagen announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 31st that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
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QIAGEN N.V. (QIAGEN) is a holding company. The Company is engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Its Sample to Insight solutions integrate sample and assay technologies, bioinformatics and automation systems. Its sample technologies are used for isolating and preparing deoxyribonucleic acid (DNA), ribonucleic acid (RNA) and proteins from blood or other liquids, tissue, plants or other materials.
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