M&T Bank Corp Takes $2.19 Million Position in Qiagen N.V. $QGEN

Key Points

• M&T Bank Corp initiated a new position in Qiagen during the fourth quarter, buying 48,152 shares worth about $2.19 million.
• Qiagen shares were down 1.4% and recently traded near their 52-week low, with the stock opening at $33.05 versus a high of $57.81 over the past year.
• The company reported quarterly EPS of $0.54, matching analyst expectations, while analysts currently rate the stock a Moderate Buy with an average price target of $46.38.

M&T Bank Corp bought a new stake in shares of Qiagen N.V. (NYSE:QGEN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,152 shares of the company's stock, valued at approximately $2,186,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QGEN. Danske Bank A S bought a new stake in shares of Qiagen in the 3rd quarter worth about $36,000. Smartleaf Asset Management LLC boosted its stake in shares of Qiagen by 1,383.3% during the third quarter. Smartleaf Asset Management LLC now owns 890 shares of the company's stock valued at $39,000 after purchasing an additional 830 shares during the period. Allworth Financial LP grew its stake in Qiagen by 23.2% in the 3rd quarter. Allworth Financial LP now owns 1,358 shares of the company's stock worth $61,000 after acquiring an additional 256 shares in the last quarter. Advisory Services Network LLC purchased a new position in Qiagen during the 3rd quarter worth $64,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Qiagen by 64.0% in the third quarter. Jones Financial Companies Lllp now owns 1,610 shares of the company's stock valued at $71,000 after acquiring an additional 628 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Qiagen Stock Down 1.4%

QGEN stock opened at $33.05 on Friday. The company's 50 day moving average is $40.93 and its two-hundred day moving average is $46.38. Qiagen N.V. has a twelve month low of $32.92 and a twelve month high of $57.81. The company has a current ratio of 3.90, a quick ratio of 3.31 and a debt-to-equity ratio of 0.44. The stock has a market cap of $6.81 billion, a P/E ratio of 17.26, a PEG ratio of 3.34 and a beta of 0.64.

Qiagen (NYSE:QGEN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.54 earnings per share for the quarter, meeting analysts' consensus estimates of $0.54. Qiagen had a return on equity of 14.09% and a net margin of 19.16%.The company had revenue of $492.32 million during the quarter, compared to analysts' expectations of $496.15 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. Research analysts expect that Qiagen N.V. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

QGEN has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Qiagen from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Zacks Research upgraded Qiagen from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 29th. UBS Group set a $52.00 target price on Qiagen in a research note on Monday, February 9th. Barclays set a $38.00 price target on Qiagen and gave the stock an "equal weight" rating in a research note on Wednesday, April 29th. Finally, TD Cowen restated a "hold" rating and set a $40.00 price target (down from $46.00) on shares of Qiagen in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $46.38.

Qiagen 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.

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