Qiagen (NYSE:QGEN) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Qiagen (NYSE:QGEN) released its quarterly earnings data on Monday. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02, RTT News reports. The company had revenue of $459.00 million during the quarter, compared to the consensus estimate of $453.91 million. Qiagen had a return on equity of 12.99% and a net margin of 17.37%. Qiagen’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. Qiagen updated its FY24 guidance to at least $2.10 EPS and its FY 2024 guidance to 2.100- EPS.

Qiagen Price Performance

QGEN stock traded down $0.57 during mid-day trading on Tuesday, hitting $41.73. The company had a trading volume of 230,130 shares, compared to its average volume of 1,194,928. The company has a 50-day moving average price of $42.57 and a 200 day moving average price of $42.69. Qiagen has a 12-month low of $34.74 and a 12-month high of $47.70. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 3.51 and a beta of 0.41. The company has a quick ratio of 1.62, a current ratio of 1.99 and a debt-to-equity ratio of 0.24.

Analysts Set New Price Targets

A number of brokerages recently weighed in on QGEN. Citigroup lowered their price objective on shares of Qiagen from $61.86 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Morgan Stanley upgraded shares of Qiagen from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $49.48 to $51.00 in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Qiagen from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.69.

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.