Qiagen (NYSE:QGEN) Issues Earnings Results

Qiagen (NYSE:QGEN) issued its quarterly earnings results on Monday. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02, RTT News reports. The firm had revenue of $459.00 million during the quarter, compared to analyst estimates of $453.91 million. Qiagen had a return on equity of 12.50% and a net margin of 17.38%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. Qiagen updated its FY24 guidance to at least $2.10 EPS and its FY 2024 guidance to 2.100- EPS.

Qiagen Stock Up 1.1 %

NYSE:QGEN opened at $42.81 on Thursday. The business’s fifty day moving average price is $42.56 and its 200 day moving average price is $42.71. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 3.58 and a beta of 0.42. The company has a current ratio of 1.99, a quick ratio of 1.62 and a debt-to-equity ratio of 0.24. Qiagen has a 1-year low of $34.74 and a 1-year high of $47.70.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on QGEN shares. Citigroup reduced their target price on shares of Qiagen from $61.86 to $60.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Stifel Nicolaus decreased their target price on Qiagen from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Qiagen from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Morgan Stanley upgraded Qiagen from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $49.48 to $51.00 in a research report on Friday, February 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.95.

Qiagen Company Profile

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.