JPMorgan Chase & Co. Has $33.09 Million Stake in Qiagen N.V. $QGEN

Key Points

• JPMorgan reduced its Q3 stake in Qiagen by 40.9%, selling 512,299 shares and now holds 740,649 shares valued at about $33.09 million (roughly 0.33% of the company).
• Several large institutions boosted or initiated positions—Vanguard owns 9,424,809 shares (~$420.4M), Amundi 4,290,273 shares (~$201.5M), while Boston Partners and Norges Bank opened sizable new stakes—leaving about 70.00% institutional ownership.
• Qiagen reported an earnings beat (Q EPS $0.62 vs. $0.61 expected) and revenue of $540.4M, trades with a market cap of $8.43B and P/E ~19.8, and carries a consensus “Hold” rating with a $55.20 target amid mixed analyst views.

JPMorgan Chase & Co. reduced its position in Qiagen N.V. (NYSE:QGEN - Free Report) by 40.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 740,649 shares of the company's stock after selling 512,299 shares during the quarter. JPMorgan Chase & Co. owned about 0.33% of Qiagen worth $33,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Qiagen by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,424,809 shares of the company's stock worth $420,401,000 after acquiring an additional 172,062 shares in the last quarter. Amundi raised its position in Qiagen by 4.4% during the third quarter. Amundi now owns 4,290,273 shares of the company's stock valued at $201,471,000 after purchasing an additional 181,509 shares in the last quarter. Boston Partners acquired a new position in Qiagen during the third quarter valued at approximately $179,450,000. Norges Bank bought a new stake in Qiagen during the second quarter worth $158,728,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Qiagen by 5.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,874,356 shares of the company's stock valued at $133,140,000 after purchasing an additional 141,393 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Qiagen Trading Down 1.8%

NYSE QGEN opened at $39.94 on Monday. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.95 and a beta of 0.70. Qiagen N.V. has a twelve month low of $39.78 and a twelve month high of $57.81. The company has a quick ratio of 3.31, a current ratio of 3.90 and a debt-to-equity ratio of 0.44. The business's fifty day moving average is $48.48 and its 200 day moving average is $48.54.

Qiagen (NYSE:QGEN - Get Free Report) last issued its earnings results on Friday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $540.42 million during the quarter, compared to analysts' expectations of $528.53 million. Qiagen had a return on equity of 14.56% and a net margin of 20.33%.The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. As a group, sell-side analysts expect that Qiagen N.V. will post 2.26 EPS for the current fiscal year.

Analysts Set New Price Targets

QGEN has been the topic of several recent analyst reports. Zacks Research lowered Qiagen from a "hold" rating to a "strong sell" rating in a research note on Monday, March 9th. Robert W. Baird set a $53.00 price objective on Qiagen in a research report on Friday, February 6th. Citigroup decreased their target price on Qiagen from $55.40 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, February 6th. TD Cowen reissued a "hold" rating on shares of Qiagen in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Qiagen from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 6th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Qiagen presently has a consensus rating of "Hold" and a consensus target price of $55.20.

Qiagen Company Profile

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.