Qiagen N.V. $QGEN Holdings Cut by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon reduced its Qiagen stake by 6.0% in the first quarter, selling 53,679 shares and retaining 844,167 shares valued at approximately $33.8 million. Institutional investors own about 70% of QGEN.
• Qiagen reported quarterly EPS of $0.54, in line with estimates, while revenue of $492.32 million came in slightly below expectations. Analysts expect full-year EPS of $2.43.
• The company increased its annual dividend to $0.35 from $0.26. Analysts maintain a consensus “Hold” rating, with an average price target of $43.34 versus the stock’s reported price of $41.38.

Bank of New York Mellon Corp reduced its stake in Qiagen N.V. (NYSE:QGEN - Free Report) by 6.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 844,167 shares of the company's stock after selling 53,679 shares during the period. Bank of New York Mellon Corp owned 0.41% of Qiagen worth $33,800,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Danske Bank A S acquired a new stake in shares of Qiagen during the 3rd quarter worth approximately $36,000. Manchester Capital Management LLC acquired a new position in Qiagen during the 4th quarter valued at approximately $42,000. Global Retirement Partners LLC boosted its position in Qiagen by 279.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,155 shares of the company's stock valued at $52,000 after purchasing an additional 851 shares during the period. Allworth Financial LP increased its position in Qiagen by 23.2% in the third quarter. Allworth Financial LP now owns 1,358 shares of the company's stock worth $61,000 after buying an additional 256 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of Qiagen in the third quarter worth $64,000. 70.00% of the stock is owned by institutional investors.

Qiagen Stock Performance

QGEN stock opened at $41.38 on Monday. The firm has a 50 day moving average of $38.12 and a two-hundred day moving average of $42.09. Qiagen N.V. has a 12 month low of $32.53 and a 12 month high of $57.81. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 4.13 and a beta of 0.64. The company has a quick ratio of 2.57, a current ratio of 3.21 and a debt-to-equity ratio of 0.49.

Qiagen (NYSE:QGEN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $492.32 million during the quarter, compared to analyst estimates of $496.15 million. Qiagen had a net margin of 19.16% and a return on equity of 14.40%. During the same quarter in the previous year, the business earned $0.56 EPS. As a group, equities analysts anticipate that Qiagen N.V. will post 2.43 EPS for the current fiscal year.

Qiagen Increases Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, July 7th were given a $0.35 dividend. This is an increase from Qiagen's previous annual dividend of $0.26. This represents a dividend yield of 90.0%. The ex-dividend date of this dividend was Tuesday, July 7th. Qiagen's payout ratio is presently 18.32%.

Wall Street Analyst Weigh In

QGEN has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $43.00 target price on shares of Qiagen in a research report on Thursday, April 30th. 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 report on Wednesday, April 29th. TD Cowen reaffirmed a "hold" rating on shares of Qiagen in a research report on Wednesday, July 15th. Morgan Stanley upgraded shares of Qiagen from an "overweight" rating to an "overweight" rating and upped their price objective for the company from $40.00 to $42.00 in a research note on Tuesday, June 23rd. Finally, Zacks Research upgraded shares of Qiagen from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 29th. One 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 company. According to MarketBeat.com, Qiagen has an average rating of "Hold" and an average price target of $43.34.

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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