Qiagen (NYSE:QGEN) Updates FY 2024 Earnings Guidance

Qiagen (NYSE:QGEN) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.100- for the period, compared to the consensus earnings per share estimate of 2.110. The company issued revenue guidance of $2.0 billion-, compared to the consensus revenue estimate of $2.0 billion. Qiagen also updated its FY24 guidance to at least $2.10 EPS.

Qiagen Stock Up 1.6 %

Qiagen stock traded up $0.67 during midday trading on Monday, reaching $42.32. The company’s stock had a trading volume of 2,566,569 shares, compared to its average volume of 1,200,973. The stock has a market capitalization of $9.66 billion, a P/E ratio of 27.97, a PEG ratio of 3.51 and a beta of 0.41. Qiagen has a 52-week low of $34.74 and a 52-week high of $47.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.99 and a quick ratio of 1.62. The stock’s 50-day simple moving average is $42.58 and its 200-day simple moving average is $42.68.

Qiagen (NYSE:QGEN) last posted its earnings results on Tuesday, February 6th. The company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $500.77 million. Qiagen had a return on equity of 12.99% and a net margin of 17.37%. During the same period last year, the firm earned $0.53 EPS. On average, sell-side analysts expect that Qiagen will post 2.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on QGEN. JPMorgan Chase & Co. lifted their price objective on Qiagen from $50.00 to $52.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Citigroup reduced their price target on shares of Qiagen from $61.86 to $60.00 and set a buy rating on the stock in a report on Thursday, February 8th. Finally, Morgan Stanley raised Qiagen from an equal weight rating to an overweight rating and raised their price target for the stock from $49.48 to $51.00 in a research report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Qiagen presently has an average rating of Moderate Buy and an average target price of $51.69.

About Qiagen

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.