Qiagen N.V. (NYSE:QGEN) Stock Position Cut by Bank of Italy

Bank of Italy decreased its holdings in Qiagen N.V. (NYSE:QGEN) by 2.8% in the 1st quarter, HoldingsChannel reports. The firm owned 799,599 shares of the company’s stock after selling 22,846 shares during the quarter. Qiagen makes up 1.7% of Bank of Italy’s holdings, making the stock its 8th biggest holding. Bank of Italy’s holdings in Qiagen were worth $31,715,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in QGEN. Groupama Asset Managment lifted its holdings in Qiagen by 8,074.0% during the 4th quarter. Groupama Asset Managment now owns 31,817,740 shares of the company’s stock worth $1,416,844,000 after buying an additional 32,216,761 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Qiagen by 9.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 25,319,332 shares of the company’s stock worth $1,127,470,000 after acquiring an additional 2,202,040 shares during the period. Wellington Management Group LLP raised its stake in shares of Qiagen by 2.5% in the fourth quarter. Wellington Management Group LLP now owns 21,782,305 shares of the company’s stock valued at $970,534,000 after acquiring an additional 531,362 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Qiagen by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 8,879,089 shares of the company’s stock valued at $397,937,000 after purchasing an additional 77,119 shares during the period. Finally, Norges Bank acquired a new position in Qiagen during the 4th quarter worth $181,529,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Qiagen Price Performance

QGEN stock opened at $47.24 on Wednesday. The business has a 50 day moving average price of $43.80 and a 200 day moving average price of $42.44. The company has a quick ratio of 2.83, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 118.44, a PEG ratio of 2.38 and a beta of 0.67. Qiagen N.V. has a fifty-two week low of $37.63 and a fifty-two week high of $49.30.

Qiagen (NYSE:QGEN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Qiagen had a net margin of 4.68% and a return on equity of 14.61%. The business had revenue of $483.46 million during the quarter, compared to the consensus estimate of $465.66 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Qiagen N.V. will post 2.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QGEN. Redburn Atlantic lowered Qiagen from a “buy” rating to a “neutral” rating in a research report on Friday, April 4th. Robert W. Baird lifted their price target on shares of Qiagen from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Barclays assumed coverage on shares of Qiagen in a research report on Tuesday. They issued an “overweight” rating and a $55.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Qiagen from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $48.77.

Qiagen Company Profile

QIAGEN NV is a holding company, which engages in the provision of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. The company sample technologies isolate and process DNA, RNA, and proteins from blood, tissue, and other materials.