Janus Henderson Group PLC Makes New Investment in Qiagen N.V. $QGEN

Key Points

• Janus Henderson Group bought 366,661 Qiagen shares worth approximately $14.6 million, giving it a 0.18% stake. Institutional investors collectively own about 70% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $43.34 average price target; ratings range from Strong Buy to Sell.
• Qiagen reported quarterly EPS of $0.54, matching estimates, while revenue of $492.32 million fell slightly short of forecasts. The company also increased its annual dividend to $0.35 per share.

Janus Henderson Group PLC bought a new position in Qiagen N.V. (NYSE:QGEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 366,661 shares of the company's stock, valued at approximately $14,647,000. Janus Henderson Group PLC owned approximately 0.18% of Qiagen as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. United Services Automobile Association bought a new position in Qiagen in the 1st quarter worth approximately $239,000. Prudential Financial Inc. grew its stake in Qiagen by 74.9% in the 2nd quarter. Prudential Financial Inc. now owns 8,873 shares of the company's stock valued at $426,000 after buying an additional 3,799 shares in the last quarter. Invesco Ltd. raised its holdings in Qiagen by 123.7% during the 2nd quarter. Invesco Ltd. now owns 1,006,025 shares of the company's stock valued at $48,350,000 after acquiring an additional 556,387 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Qiagen by 226.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,598 shares of the company's stock valued at $125,000 after acquiring an additional 1,802 shares during the period. Finally, First Trust Advisors LP purchased a new stake in shares of Qiagen during the second quarter worth $3,639,000. Institutional investors own 70.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on QGEN. Weiss Ratings cut Qiagen from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 29th. JPMorgan Chase & Co. dropped their price objective on Qiagen from $60.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Barclays set a $38.00 target price on Qiagen and gave the stock an "equal weight" rating in a research note on Wednesday, April 29th. Stifel Nicolaus set a $36.00 target price on Qiagen and gave the company a "hold" rating in a report on Monday, May 18th. Finally, Berenberg Bank set a $45.50 target price on Qiagen and gave the company a "hold" rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $43.34.

Qiagen Price Performance

Qiagen stock opened at $42.34 on Wednesday. Qiagen N.V. has a 52 week low of $32.53 and a 52 week high of $57.81. The business has a 50-day simple moving average of $39.10 and a 200 day simple moving average of $41.77. The company has a quick ratio of 2.57, a current ratio of 3.21 and a debt-to-equity ratio of 0.49. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 4.22 and a beta of 0.63.

Qiagen (NYSE:QGEN - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.54 earnings per share for the quarter, hitting analysts' consensus estimates of $0.54. Qiagen had a return on equity of 14.40% and a net margin of 19.16%.The business had revenue of $492.32 million for the quarter, compared to analyst estimates of $496.15 million. During the same period in the prior year, the company earned $0.56 EPS. On average, research analysts forecast that Qiagen N.V. will post 2.43 earnings per share for the current fiscal year.

Qiagen Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, July 7th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This is a positive change from Qiagen's previous annual dividend of $0.26. This represents a dividend yield of 90.0%. Qiagen's payout ratio is presently 18.32%.

About Qiagen

Qiagen NV NYSE: QGEN is a global provider of sample and assay technologies designed to enable molecular testing in the fields of molecular diagnostics, applied testing, academic research and pharmaceutical development. The company's solutions span the full workflow of nucleic acid and protein analysis, offering customers standardized kits, instruments and software tools that streamline the preparation, detection and quantification of DNA, RNA and proteins.

The company's product portfolio includes nucleic acid extraction and purification systems, polymerase chain reaction (PCR) reagents and instrumentation, digital PCR platforms, next-generation sequencing (NGS) library‐preparation kits and proteomics solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source