Northern Trust Corp Decreases Position in Qiagen N.V. $QGEN

Key Points

• Northern Trust Corp reduced its holdings in QIAGEN N.V. by 2.4% in Q1 2023, owning 1,220,441 shares after selling 30,271 shares.
• QIAGEN reported $0.60 earnings per share for the recent quarter, meeting analysts' expectations, with revenue of $533.54 million, up 7.7% compared to the previous year.
• Brokerages have provided mixed ratings on QIAGEN, with Bank of America increasing its price target from $50.00 to $53.00 and giving the stock a "buy" rating.

Northern Trust Corp lessened its stake in shares of Qiagen N.V. (NYSE:QGEN - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,220,441 shares of the company's stock after selling 30,271 shares during the period. Northern Trust Corp owned 0.55% of Qiagen worth $49,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its position in shares of Qiagen by 2.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 17,825 shares of the company's stock worth $716,000 after purchasing an additional 395 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Qiagen by 14.4% during the 4th quarter. Cetera Investment Advisers now owns 11,297 shares of the company's stock worth $505,000 after purchasing an additional 1,418 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Qiagen by 93.9% during the 1st quarter. GAMMA Investing LLC now owns 2,943 shares of the company's stock worth $118,000 after purchasing an additional 1,425 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of Qiagen by 35.7% during the 4th quarter. Rehmann Capital Advisory Group now owns 7,217 shares of the company's stock worth $321,000 after purchasing an additional 1,898 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Qiagen by 770.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,490 shares of the company's stock worth $111,000 after purchasing an additional 2,204 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Qiagen Trading Up 0.9%

Shares of NYSE QGEN traded up $0.39 during midday trading on Friday, reaching $46.53. 1,965,193 shares of the stock were exchanged, compared to its average volume of 1,493,293. The company has a 50 day simple moving average of $48.71 and a 200 day simple moving average of $44.14. The stock has a market capitalization of $10.34 billion, a P/E ratio of 27.49, a PEG ratio of 2.44 and a beta of 0.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.35 and a current ratio of 1.61. Qiagen N.V. has a twelve month low of $37.63 and a twelve month high of $51.88.

Qiagen (NYSE:QGEN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.60. The business had revenue of $533.54 million during the quarter, compared to the consensus estimate of $523.97 million. Qiagen had a net margin of 18.30% and a return on equity of 14.77%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS. Qiagen has set its Q3 2025 guidance at 0.580- EPS. FY 2025 guidance at 2.350-2.350 EPS. As a group, equities analysts expect that Qiagen N.V. will post 2.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on QGEN shares. Bank of America upped their price target on shares of Qiagen from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. UBS Group increased their price objective on shares of Qiagen from $48.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Barclays started coverage on shares of Qiagen in a report on Tuesday, June 24th. They issued an "overweight" rating and a $55.00 price objective for the company. Wall Street Zen downgraded shares of Qiagen from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. Finally, Cowen reiterated a "hold" rating on shares of Qiagen in a report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $49.69.

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.