Southpoint Capital Advisors LP Trims Holdings in Qiagen (NYSE:QGEN)

Southpoint Capital Advisors LP cut its position in shares of Qiagen (NYSE:QGEN) by 35.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300,000 shares of the company’s stock after selling 700,000 shares during the quarter. Qiagen makes up 1.4% of Southpoint Capital Advisors LP’s investment portfolio, making the stock its 29th largest position. Southpoint Capital Advisors LP owned about 0.57% of Qiagen worth $59,241,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of QGEN. Victory Capital Management Inc. boosted its stake in Qiagen by 104,759.6% in the 2nd quarter. Victory Capital Management Inc. now owns 1,583,380 shares of the company’s stock worth $65,061,000 after buying an additional 1,581,870 shares during the last quarter. Nuance Investments LLC boosted its position in shares of Qiagen by 17.3% in the second quarter. Nuance Investments LLC now owns 5,271,494 shares of the company’s stock worth $216,606,000 after acquiring an additional 778,005 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Qiagen by 148.8% in the second quarter. Point72 Asset Management L.P. now owns 1,184,806 shares of the company’s stock valued at $48,684,000 after purchasing an additional 708,533 shares during the period. Earnest Partners LLC increased its position in Qiagen by 11.1% during the second quarter. Earnest Partners LLC now owns 3,807,284 shares of the company’s stock worth $156,441,000 after purchasing an additional 379,679 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Qiagen by 12.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,248,354 shares of the company’s stock worth $133,292,000 after purchasing an additional 353,280 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Qiagen Trading Down 0.7 %

QGEN opened at $43.43 on Friday. The firm has a market capitalization of $9.91 billion, a P/E ratio of 111.36, a P/E/G ratio of 3.39 and a beta of 0.41. The firm’s 50 day moving average is $43.22 and its 200-day moving average is $43.72. The company has a quick ratio of 1.89, a current ratio of 2.17 and a debt-to-equity ratio of 0.39. Qiagen has a 52-week low of $39.03 and a 52-week high of $47.44.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Hsbc Global Res upgraded Qiagen to a “hold” rating in a research note on Thursday, October 17th. HSBC downgraded shares of Qiagen from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research report on Thursday, October 17th. Finally, Robert W. Baird lifted their price target on shares of Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.88.

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.