Qiagen (NYSE:QGEN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “QIAGEN ended the fourth quarter on a disappointing note. Sales in the Americas were sluggish, affected by the decline in instrument service revenues in the Molecular Diagnostics customer class. Competitive landscape and strong reliance on collaborations remain major overhangs. On a positive note, QIAGEN reported double-digit growth in Japan and China. The company projects over $300 million of QuantiFERON sales in 2020. It also continues to expect DiaSorin automation solution availability in the United States in 2019 and in China in 2020. Within NGS, QIAGEN has set a goal for 2019 sales of about $190 million. The company is also moving ahead with new placements of the QIAsymphony automation platform and expects to reach more than 2,500 cumulative placements in 2019. Meanwhile, QIAGEN’s commitment to return to shareholders reflects solid cash position. QIAGEN outperformed its industry over the past three months.”

QGEN has been the subject of a number of other research reports. Jefferies Financial Group reiterated a “neutral” rating on shares of Qiagen in a research report on Monday, January 21st. Deutsche Bank reiterated a “buy” rating on shares of Qiagen in a research report on Friday. Finally, UBS Group began coverage on Qiagen in a research report on Friday, March 15th. They set a “neutral” rating and a $42.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.17.

NYSE:QGEN traded down $0.11 during midday trading on Monday, reaching $40.50. 61,920 shares of the company traded hands, compared to its average volume of 945,838. Qiagen has a twelve month low of $31.93 and a twelve month high of $41.55. The firm has a market capitalization of $9.25 billion, a P/E ratio of 30.22, a P/E/G ratio of 2.32 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.22 and a quick ratio of 2.05.

Qiagen (NYSE:QGEN) last released its quarterly earnings data on Monday, February 4th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. Qiagen had a return on equity of 12.15% and a net margin of 12.68%. The business had revenue of $403.20 million during the quarter, compared to analyst estimates of $409.32 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts anticipate that Qiagen will post 1.45 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Lindbrook Capital LLC acquired a new position in Qiagen in the 4th quarter worth about $25,000. Captrust Financial Advisors increased its position in 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 purchasing an additional 628 shares during the last quarter. Bremer Trust National Association acquired a new position in Qiagen in the 4th quarter worth about $45,000. Truvestments Capital LLC acquired a new position in Qiagen in the 1st quarter worth about $67,000. Finally, Fort L.P. acquired a new position in Qiagen in the 4th quarter worth about $68,000. 64.77% of the stock is currently owned by hedge funds and other institutional investors.

Qiagen Company Profile

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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