Qiagen (NYSE:QGEN) Posts Quarterly Earnings Results

Qiagen (NYSE:QGEN) issued its quarterly earnings data on Monday. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02, RTT News reports. The company had revenue of $459.00 million for the quarter, compared to analyst estimates of $453.91 million. Qiagen had a return on equity of 12.99% and a net margin of 17.37%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. Qiagen updated its FY24 guidance to at least $2.10 EPS and its FY 2024 guidance to 2.100- EPS.

Qiagen Price Performance

Shares of NYSE:QGEN opened at $42.32 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. The company has a market cap 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 50-day moving average price of $42.57 and a 200 day moving average price of $42.69.

Wall Street Analyst Weigh In

QGEN has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Qiagen from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Morgan Stanley upgraded shares of Qiagen from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $49.48 to $51.00 in a research note on Friday, February 16th. Finally, Citigroup decreased their target price on shares of Qiagen from $61.86 to $60.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.69.

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.