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

Qiagen (NYSE:QGEN) posted its quarterly earnings results on Monday. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02, RTT News reports. The firm had revenue of $459.00 million for 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 quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business 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 Price Performance

Shares of QGEN stock traded down $0.57 during trading hours on Tuesday, hitting $41.73. The company’s stock had a trading volume of 230,130 shares, compared to its average volume of 1,194,928. The business has a fifty day moving average of $42.57 and a 200-day moving average of $42.69. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 3.51 and a beta of 0.41. The company has a current ratio of 1.99, a quick ratio of 1.62 and a debt-to-equity ratio of 0.24. Qiagen has a twelve month low of $34.74 and a twelve month high of $47.70.

Wall Street Analyst Weigh In

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

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.