Qiagen (NYSE:QGEN) Announces Earnings Results, Beats Expectations By $0.02 EPS

Qiagen (NYSE:QGEN) issued its quarterly earnings data on Wednesday. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02, Zacks reports. The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $538.61 million. Qiagen had a return on equity of 14.69% and a net margin of 18.19%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share.

Qiagen Price Performance

Shares of Qiagen stock traded down $0.46 during trading hours on Friday, reaching $50.40. The company’s stock had a trading volume of 1,776,617 shares, compared to its average volume of 2,817,538. The firm has a 50 day moving average price of $45.70 and a 200-day moving average price of $42.79. Qiagen has a one year low of $32.53 and a one year high of $57.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.85 and a quick ratio of 2.31. The stock has a market cap of $10.39 billion, a P/E ratio of 27.51, a P/E/G ratio of 5.05 and a beta of 0.56.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on QGEN. Citigroup reissued a “neutral” rating and issued a $52.00 price target (up from $45.00) on shares of Qiagen in a report on Monday, October 26th. JPMorgan Chase & Co. cut shares of Qiagen from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $55.00 to $52.00 in a report on Thursday, October 22nd. Robert W. Baird lifted their price target on Qiagen from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Berenberg Bank set a $45.50 target price on Qiagen and gave the company a “hold” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Qiagen in a report on Friday, September 11th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.09.

Qiagen Company Profile

QIAGEN N.V. (NYSE:QGEN) is a global provider of sample preparation technologies, molecular testing solutions and bioinformatics for the life sciences and molecular diagnostics markets. The company develops products that help researchers and clinical laboratories isolate, analyze and interpret DNA, RNA and other biological materials.

Its portfolio includes sample collection and purification kits, automated laboratory instruments, PCR and next-generation sequencing assays, digital PCR solutions, bioinformatics software and related consumables.