Canvas Wealth Advisors LLC Trims Position in Qiagen N.V. (NYSE:QGEN)

Canvas Wealth Advisors LLC decreased its position in shares of Qiagen N.V. (NYSE:QGEN - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,638 shares of the company's stock after selling 7,788 shares during the quarter. Canvas Wealth Advisors LLC's holdings in Qiagen were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Qiagen during the fourth quarter worth $202,000. Wells Fargo & Company MN increased its position in shares of Qiagen by 31.8% during the 4th quarter. Wells Fargo & Company MN now owns 66,779 shares of the company's stock worth $2,974,000 after purchasing an additional 16,106 shares during the last quarter. LPL Financial LLC increased its position in shares of Qiagen by 2.6% during the 4th quarter. LPL Financial LLC now owns 17,240 shares of the company's stock worth $768,000 after purchasing an additional 432 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Qiagen by 66.3% in the 4th quarter. Ameriprise Financial Inc. now owns 63,026 shares of the company's stock valued at $2,807,000 after buying an additional 25,134 shares during the period. Finally, Cetera Investment Advisers lifted its position in Qiagen by 14.4% in the fourth quarter. Cetera Investment Advisers now owns 11,297 shares of the company's stock valued at $505,000 after buying an additional 1,418 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Qiagen Price Performance

Shares of NYSE QGEN opened at $48.07 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.37 and a quick ratio of 2.83. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 120.51, a price-to-earnings-growth ratio of 2.42 and a beta of 0.67. The stock's 50-day moving average is $44.06 and its two-hundred day moving average is $42.51. Qiagen N.V. has a 1-year low of $37.63 and a 1-year high of $49.30.

Qiagen (NYSE:QGEN - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. Qiagen had a net margin of 4.68% and a return on equity of 14.61%. The firm had revenue of $483.46 million for the quarter, compared to analyst estimates of $465.66 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business's quarterly revenue was up 5.2% compared to the same quarter last year. Analysts forecast that Qiagen N.V. will post 2.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on QGEN. Redburn Atlantic downgraded shares of Qiagen from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Bank of America boosted their target price on Qiagen from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen upgraded Qiagen from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 15th. Barclays initiated coverage on Qiagen in a report on Tuesday. They issued an "overweight" rating and a $55.00 price objective on the stock. Finally, Robert W. Baird raised their target price on Qiagen from $42.00 to $43.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $49.30.

About Qiagen

QIAGEN NV is a holding company, which engages in the provision of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. The company sample technologies isolate and process DNA, RNA, and proteins from blood, tissue, and other materials.

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