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

Qiagen (NYSE:QGEN) posted its earnings results on Wednesday. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02, Zacks reports. The company had revenue of $548.00 million for the quarter, compared to analyst estimates of $538.61 million. Qiagen had a return on equity of 14.47% and a net margin of 19.49%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share.

Qiagen Stock Down 0.2%

NYSE QGEN traded down $0.11 during mid-day trading on Thursday, reaching $50.72. The stock had a trading volume of 2,077,835 shares, compared to its average volume of 2,810,318. Qiagen has a 1 year low of $32.53 and a 1 year high of $57.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.85 and a quick ratio of 2.31. The company has a fifty day moving average price of $45.55 and a 200 day moving average price of $42.77. The stock has a market cap of $10.45 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 5.01 and a beta of 0.56.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QGEN. Citigroup reaffirmed a “neutral” rating and set a $52.00 price target (up from $45.00) on shares of Qiagen in a research note on Monday, October 26th. Stifel Nicolaus set a $40.00 target price on shares of Qiagen in a research report on Friday, August 7th. Berenberg Bank set a $45.50 target price on shares of Qiagen and gave the stock a “hold” rating in a report on Tuesday, July 14th. TD Cowen reaffirmed a “hold” rating on shares of Qiagen in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lowered shares of Qiagen from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $52.00 in a report on Thursday, October 22nd. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Qiagen has an average rating of “Hold” and an average price target of $46.09.

About Qiagen

QIAGEN N.V. (NYSE:QGEN) is a global provider of sample preparation technologies, molecular testing solutions and bioinformatics for the life sciences and molecular diagnostics markets. The company develops products that help researchers and clinical laboratories isolate, analyze and interpret DNA, RNA and other biological materials.

Its portfolio includes sample collection and purification kits, automated laboratory instruments, PCR and next-generation sequencing assays, digital PCR solutions, bioinformatics software and related consumables.