Douglas Lane & Associates LLC Raises Stake in Qiagen NV (QGEN)
Douglas Lane & Associates LLC increased its stake in shares of Qiagen NV (NASDAQ:QGEN) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 1,942,678 shares of the company’s stock after buying an additional 21,675 shares during the period. Qiagen NV comprises 1.2% of Douglas Lane & Associates LLC’s holdings, making the stock its 29th largest position. Douglas Lane & Associates LLC’s holdings in Qiagen NV were worth $42,370,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in Qiagen NV by 25.2% in the first quarter. Royal Bank of Canada now owns 7,712 shares of the company’s stock valued at $173,000 after buying an additional 1,553 shares during the period. Private Bank & Trust Co. boosted its position in Qiagen NV by 17.8% in the second quarter. Private Bank & Trust Co. now owns 10,609 shares of the company’s stock valued at $231,000 after buying an additional 1,606 shares during the period. Parametrica Management Ltd bought a new position in Qiagen NV during the first quarter valued at about $276,000. Nisa Investment Advisors LLC boosted its position in Qiagen NV by 4.7% in the second quarter. Nisa Investment Advisors LLC now owns 13,400 shares of the company’s stock valued at $292,000 after buying an additional 600 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in Qiagen NV during the first quarter valued at about $333,000. Institutional investors and hedge funds own 58.78% of the company’s stock.
Shares of Qiagen NV (NASDAQ:QGEN) traded down 1.65% during midday trading on Monday, hitting $26.16. 916,727 shares of the company traded hands. Qiagen NV has a 12-month low of $19.94 and a 12-month high of $28.04. The stock’s 50-day moving average is $26.78 and its 200 day moving average is $23.32. The stock has a market capitalization of $6.12 billion, a P/E ratio of 52.32 and a beta of 0.90.
Qiagen NV (NASDAQ:QGEN) last announced its earnings results on Thursday, July 28th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. Qiagen NV had a net margin of 9.13% and a return on equity of 9.21%. The company earned $334.40 million during the quarter, compared to the consensus estimate of $326.73 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. On average, analysts expect that Qiagen NV will post $1.09 earnings per share for the current year.
Several research firms have recently issued reports on QGEN. Morgan Stanley set a $30.00 price objective on shares of Qiagen NV and gave the company a “buy” rating in a report on Sunday, September 11th. Jefferies Group reiterated a “hold” rating on shares of Qiagen NV in a report on Thursday, August 4th. DZ Bank AG reiterated a “buy” rating on shares of Qiagen NV in a report on Monday. Zacks Investment Research cut shares of Qiagen NV from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Qiagen NV in a report on Friday, July 29th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $25.36.
About Qiagen NV
QIAGEN N.V. (QIAGEN) is a holding company. The Company and its subsidiaries are engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Sample to Insight solutions are composed of sample and assay technologies, bioinformatics and automation systems.
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