Qiagen (NYSE:QGEN) Releases Earnings Results, Beats Estimates By $0.02 EPS

Qiagen (NYSE:QGEN) posted its earnings results on Monday. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02, RTT News reports. The firm had revenue of $459.00 million during the quarter, compared to analyst estimates of $453.91 million. Qiagen had a net margin of 17.37% and a return on equity of 12.99%. Qiagen’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm 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 Trading Down 1.8 %

Shares of Qiagen stock traded down $0.75 on Tuesday, hitting $41.55. 259,609 shares of the company traded hands, compared to its average volume of 1,195,783. Qiagen has a 52 week low of $34.74 and a 52 week high of $47.70. The company has a market cap of $9.48 billion, a PE ratio of 27.97, a PEG ratio of 3.51 and a beta of 0.41. The stock’s 50 day moving average price is $42.57 and its 200-day moving average price is $42.69. The company has a current ratio of 1.99, a quick ratio of 1.62 and a debt-to-equity ratio of 0.24.

Analyst Ratings Changes

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

About Qiagen

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.