Sector Gamma AS Reduces Holdings in Qiagen N.V. (NYSE:QGEN)

Key Points

• Sector Gamma AS reduced its holdings in Qiagen N.V. by 8.3%, now owning 187,000 shares which represent approximately 2.4% of its total holdings.
• Qiagen recently reported $0.60 EPS for the quarter, meeting the consensus estimate, with revenue increasing by 7.7% year-over-year to $533.54 million.
• A number of analysts have updated their price targets for Qiagen, with UBS raising its target from $48 to $50 and Bank of America increasing it from $50 to $53, reflecting varied investor sentiment.

Sector Gamma AS trimmed its holdings in shares of Qiagen N.V. (NYSE:QGEN - Free Report) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,000 shares of the company's stock after selling 16,993 shares during the period. Qiagen comprises approximately 2.4% of Sector Gamma AS's holdings, making the stock its 19th biggest holding. Sector Gamma AS owned 0.08% of Qiagen worth $7,508,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. ANTIPODES PARTNERS Ltd purchased a new stake in Qiagen in the 1st quarter worth approximately $94,000. Tower Research Capital LLC TRC grew its stake in Qiagen by 770.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,490 shares of the company's stock worth $111,000 after acquiring an additional 2,204 shares during the period. GAMMA Investing LLC grew its stake in Qiagen by 93.9% in the 1st quarter. GAMMA Investing LLC now owns 2,943 shares of the company's stock worth $118,000 after acquiring an additional 1,425 shares during the period. Federated Hermes Inc. purchased a new stake in Qiagen in the 1st quarter worth approximately $150,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Qiagen in the 4th quarter worth approximately $202,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Qiagen Stock Performance

Shares of NYSE:QGEN opened at $48.95 on Friday. The company has a market cap of $10.88 billion, a P/E ratio of 28.92, a PEG ratio of 2.58 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 one year low of $37.63 and a one year high of $51.88. The business's 50-day simple moving average is $48.29 and its 200 day simple moving average is $43.68.

Qiagen (NYSE:QGEN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $533.54 million for the quarter, compared to the consensus estimate of $523.97 million. Qiagen had a return on equity of 14.77% and a net margin of 18.30%. The company's revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. On average, sell-side analysts forecast that Qiagen N.V. will post 2.26 earnings per share for the current fiscal year.

Qiagen Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, July 3rd were issued a $0.25 dividend. The ex-dividend date was Wednesday, July 2nd. This represents a yield of 52.0%. Qiagen's payout ratio is currently 14.79%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on QGEN shares. UBS Group lifted their price target on shares of Qiagen from $48.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Bank of America lifted their price target on shares of Qiagen from $50.00 to $53.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Wall Street Zen lowered shares of Qiagen from a "strong-buy" rating to a "buy" rating in a report on Monday. Barclays started coverage on shares of Qiagen in a report on Tuesday, June 24th. They issued an "overweight" rating and a $55.00 price target on the stock. Finally, Cowen reiterated a "hold" rating on shares of Qiagen in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Qiagen currently has a consensus rating of "Hold" and a consensus target price 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.

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