Qiagen (NYSE:QGEN) Issues FY24 Earnings Guidance

Qiagen (NYSE:QGEN) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of at least $2.10 for the period, compared to the consensus EPS estimate of $2.10. The company issued revenue guidance of at least $2.0 billion, compared to the consensus revenue estimate of $2.01 billion.

Analyst Upgrades and Downgrades

A number of analysts recently commented on QGEN shares. Citigroup reduced their price objective on Qiagen from $61.86 to $60.00 and set a buy rating for the company in a research report on Thursday, February 8th. Morgan Stanley upgraded Qiagen from an equal weight rating to an overweight rating and upped their price target for the stock from $49.48 to $51.00 in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. upped their price target on Qiagen from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $51.69.

Qiagen Trading Up 1.6 %

Shares of QGEN stock traded up $0.65 on Monday, reaching $42.30. 2,038,015 shares of the company’s stock were exchanged, compared to its average volume of 1,200,949. Qiagen has a 52 week low of $34.74 and a 52 week high of $47.70. The company has a current ratio of 1.99, a quick ratio of 1.62 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $9.65 billion, a PE ratio of 27.53, a P/E/G ratio of 3.51 and a beta of 0.41. The company’s fifty day simple moving average is $42.58 and its 200 day simple moving average is $42.68.

Qiagen (NYSE:QGEN) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Qiagen had a return on equity of 12.99% and a net margin of 17.37%. The firm had revenue of $509.00 million during the quarter, compared to analyst estimates of $500.77 million. During the same period last year, the company earned $0.53 EPS. As a group, analysts forecast that Qiagen will post 2.09 EPS for the current year.

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.