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

Qiagen (NYSE:QGEN) released its earnings results on Wednesday. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02, Zacks reports. Qiagen had a return on equity of 14.47% and a net margin of 19.49%. During the same quarter in the prior year, the firm earned $0.61 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year.

Qiagen Price Performance

QGEN traded up $0.44 during midday trading on Wednesday, reaching $50.82. 3,228,032 shares of the company’s stock were exchanged, compared to its average volume of 5,863,858. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 5.01 and a beta of 0.56. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 0.48. Qiagen has a one year low of $32.53 and a one year high of $57.81. The business has a 50-day simple moving average of $45.55 and a two-hundred day simple moving average of $42.77.

Analyst Upgrades and Downgrades

QGEN has been the subject of a number of research reports. TD Cowen reiterated a “hold” rating on shares of Qiagen in a research report on Wednesday, July 15th. Jefferies Financial Group restated a “buy” rating and set a $48.00 price objective on shares of Qiagen in a research report on Thursday, August 6th. Robert W. Baird boosted their price objective on Qiagen from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. UBS Group began coverage on Qiagen in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $47.00 target price for the company. Finally, DZ Bank cut Qiagen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.