Qiagen (NYSE:QGEN) Reaches New 12-Month Low at $40.33

Qiagen (NYSE:QGEN)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $40.33 and last traded at $40.52, with a volume of 140980 shares. The stock had previously closed at $40.57.

Wall Street Analysts Forecast Growth

QGEN has been the topic of several recent analyst reports. StockNews.com initiated coverage on Qiagen in a research report on Wednesday, August 23rd. They set a “buy” rating on the stock. Robert W. Baird initiated coverage on Qiagen in a research report on Monday, September 11th. They set an “outperform” rating and a $50.00 price target on the stock. Morgan Stanley raised Qiagen from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 23rd. TheStreet lowered Qiagen from a “b-” rating to a “c+” rating in a research report on Thursday. Finally, UBS Group lowered their price target on Qiagen from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.15.

Qiagen Price Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.96 and a current ratio of 2.36. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 9.94 and a beta of 0.37. The business has a fifty day moving average of $44.64 and a two-hundred day moving average of $45.22.

Qiagen (NYSE:QGEN) last posted its earnings results on Tuesday, August 8th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Qiagen had a return on equity of 13.72% and a net margin of 17.04%. The business had revenue of $497.00 million for the quarter, compared to analyst estimates of $492.21 million. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year. As a group, research analysts predict that Qiagen will post 2.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QGEN. Park Place Capital Corp acquired a new position in Qiagen in the 2nd quarter valued at $31,000. WealthPLAN Partners LLC acquired a new position in Qiagen in the 1st quarter valued at $33,000. Altshuler Shaham Ltd acquired a new position in Qiagen in the 2nd quarter valued at $37,000. Assetmark Inc. grew its holdings in Qiagen by 41.6% in the 1st quarter. Assetmark Inc. now owns 834 shares of the company’s stock valued at $38,000 after buying an additional 245 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Qiagen by 23.1% during the 1st quarter. Captrust Financial Advisors now owns 1,232 shares of the company’s stock valued at $60,000 after acquiring an additional 231 shares during the period. 57.99% of the stock is owned by institutional investors and hedge funds.

About Qiagen

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.