Zacks Investment Research Lowers Qiagen (NYSE:QGEN) to Sell

Zacks Investment Research lowered shares of Qiagen (NYSE:QGEN) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, Zacks.com reports. They currently have $38.00 target price on the stock.

According to Zacks, “QIAGEN ended the second quarter on a dull note with lower-than-expected results. However, we are impressed with the year-over-year growth across all segments and majority of its geographies. Meanwhile, its commitment to return more to shareholders through ramped-up repurchases reflects a solid cash position. We are also upbeat about the company’s Sample to Insight portfolio progress in the quarter. Developments like two FDA approvals of the new therascreencompanion diagnostics and U.S. launch of the QIAstat-Dx with respiratory panel in partnership with McKesson are impressive. The company’s recent decision to restructure China-based next-generation sequencing (NGS) joint venture buoys optimism. On the flip side, a guidance cut indicates that a dull trend might continue through the year.A tough competitive landscape is worrying.”

QGEN has been the topic of several other reports. Exane BNP Paribas upgraded Qiagen from a neutral rating to an outperform rating in a report on Friday, July 12th. Barclays lifted their target price on Qiagen from $43.00 to $45.00 and gave the stock an overweight rating in a report on Friday, June 21st. Goldman Sachs Group reiterated a buy rating on shares of Qiagen in a report on Thursday, August 1st. BNP Paribas upgraded Qiagen from a neutral rating to an outperform rating in a report on Friday, July 12th. Finally, Berenberg Bank reiterated a buy rating and set a $40.00 target price on shares of Qiagen in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Qiagen has a consensus rating of Buy and an average price target of $41.67.

QGEN stock traded down $0.40 during midday trading on Tuesday, hitting $36.61. 173,909 shares of the company’s stock were exchanged, compared to its average volume of 838,706. The stock’s fifty day moving average is $39.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.59 and a current ratio of 1.77. The company has a market cap of $8.20 billion, a P/E ratio of 27.32, a PEG ratio of 2.23 and a beta of 0.83. Qiagen has a one year low of $32.33 and a one year high of $41.55.

Qiagen (NYSE:QGEN) last posted its earnings results on Wednesday, July 24th. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). The business had revenue of $381.60 million for the quarter, compared to the consensus estimate of $386.37 million. Qiagen had a return on equity of 12.10% and a net margin of 12.94%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. On average, analysts predict that Qiagen will post 1.41 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of QGEN. O Shaughnessy Asset Management LLC acquired a new stake in shares of Qiagen in the first quarter valued at about $30,000. Cornerstone Advisors Inc. acquired a new stake in shares of Qiagen in the first quarter valued at about $44,000. Bessemer Group Inc. increased its position in shares of Qiagen by 5,918.5% in the second quarter. Bessemer Group Inc. now owns 1,625 shares of the company’s stock valued at $66,000 after acquiring an additional 1,598 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Qiagen in the first quarter valued at about $67,000. Finally, Rockefeller Capital Management L.P. increased its position in shares of Qiagen by 83.1% in the first quarter. Rockefeller Capital Management L.P. now owns 2,113 shares of the company’s stock valued at $86,000 after acquiring an additional 959 shares during the last quarter. Institutional investors own 62.45% of the company’s stock.

Qiagen Company Profile

QIAGEN N.V. provides sample to insight solutions that transform biological materials into molecular insights worldwide. The company offers sample technologies for plasmid deoxyribonucleic acid (DNA) purification, ribonucleic acid purification and stabilization, genomic and viral nucleic acid purification, DNA cleanup after polymerase chain reaction (PCR) and sequencing, target enrichment, and library preparation for sequencing applications; and assay technology solutions.

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