Q2 2024 Earnings Forecast for Qiagen Issued By William Blair (NYSE:QGEN)

Qiagen (NYSE:QGEN) – Equities research analysts at William Blair reduced their Q2 2024 earnings per share estimates for Qiagen in a report issued on Wednesday, May 1st. William Blair analyst A. Brackmann now forecasts that the company will earn $0.52 per share for the quarter, down from their prior estimate of $0.53. The consensus estimate for Qiagen’s current full-year earnings is $2.09 per share. William Blair also issued estimates for Qiagen’s Q3 2024 earnings at $0.52 EPS and Q4 2024 earnings at $0.61 EPS.

Other research analysts also recently issued reports about the company. Stifel Nicolaus decreased their price objective on Qiagen from $55.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Qiagen from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Morgan Stanley raised shares of Qiagen from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $49.48 to $51.00 in a research report on Friday, February 16th. Finally, Citigroup decreased their target price on Qiagen from $61.86 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.95.

Qiagen Trading Up 0.9 %

Shares of NYSE:QGEN opened at $42.95 on Monday. The company’s fifty day simple moving average is $42.50 and its 200 day simple moving average is $42.83. The firm has a market cap of $9.80 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.64 and a beta of 0.42. The company has a quick ratio of 1.45, a current ratio of 1.84 and a debt-to-equity ratio of 0.25. Qiagen has a 12 month low of $34.74 and a 12 month high of $47.70.

Qiagen (NYSE:QGEN) last posted its earnings results on Monday, April 29th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $459.00 million for the quarter, compared to analyst estimates of $453.91 million. Qiagen had a return on equity of 12.59% and a net margin of 17.38%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QGEN. Riverview Trust Co bought a new position in shares of Qiagen in the first quarter worth about $28,000. Briaud Financial Planning Inc acquired a new stake in Qiagen in the third quarter valued at $31,000. Tower Research Capital LLC TRC raised its position in shares of Qiagen by 66.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 283 shares during the last quarter. Park Place Capital Corp bought a new position in Qiagen during the 1st quarter worth approximately $36,000. Finally, Quarry LP acquired a new position in Qiagen in the fourth quarter valued at $38,000. 70.00% of the stock is currently 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.