Principal Financial Group Inc. Cuts Holdings in Qiagen NV (QGEN)
Principal Financial Group Inc. lessened its stake in Qiagen NV (NYSE:QGEN) by 17.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,745 shares of the company’s stock after selling 3,099 shares during the quarter. Principal Financial Group Inc.’s holdings in Qiagen were worth $508,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC bought a new stake in shares of Qiagen in the 4th quarter worth approximately $25,000. Captrust Financial Advisors lifted its holdings in shares of Qiagen by 165.3% in the 4th quarter. Captrust Financial Advisors now owns 1,008 shares of the company’s stock worth $35,000 after acquiring an additional 628 shares during the last quarter. Bremer Trust National Association bought a new stake in shares of Qiagen in the 4th quarter worth approximately $45,000. Fort L.P. bought a new stake in shares of Qiagen in the 4th quarter worth approximately $68,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Qiagen in the 4th quarter worth approximately $118,000. 64.77% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Qiagen from a “sell” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, April 16th. Deutsche Bank reiterated a “buy” rating on shares of Qiagen in a report on Friday, April 12th. Jefferies Financial Group reiterated a “neutral” rating on shares of Qiagen in a report on Monday, January 21st. Finally, UBS Group assumed coverage on shares of Qiagen in a report on Friday, March 15th. They set a “neutral” rating and a $42.00 price target for the company. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Qiagen presently has an average rating of “Buy” and an average target price of $41.71.
Qiagen (NYSE:QGEN) last released its earnings results on Monday, February 4th. The company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $403.20 million for the quarter, compared to the consensus estimate of $409.32 million. Qiagen had a net margin of 12.68% and a return on equity of 12.15%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. On average, analysts forecast that Qiagen NV will post 1.46 EPS for the current fiscal year.
QIAGEN N.V. provides sample to insight solutions that transform biological materials into molecular insights worldwide. The company offers sample technologies for plasmid deoxyribonucleic acid (DNA) purification, ribonucleic acid purification and stabilization, genomic and viral nucleic acid purification, DNA cleanup after polymerase chain reaction (PCR) and sequencing, target enrichment, and library preparation for sequencing applications; and assay technology solutions.
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