Zacks Research Weighs in on Qiagen's Q2 2024 Earnings (NYSE:QGEN)

Qiagen (NYSE:QGEN - Free Report) - Investment analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for Qiagen in a note issued to investors on Monday, April 29th. Zacks Research analyst M. Mondal now expects that the company will post earnings of $0.51 per share for the quarter, down from their previous estimate of $0.52. The consensus estimate for Qiagen's current full-year earnings is $2.09 per share. Zacks Research also issued estimates for Qiagen's Q3 2024 earnings at $0.52 EPS, FY2024 earnings at $2.07 EPS, Q1 2025 earnings at $0.50 EPS, Q2 2025 earnings at $0.57 EPS, FY2025 earnings at $2.22 EPS, Q1 2026 earnings at $0.56 EPS and FY2026 earnings at $2.45 EPS.

QGEN has been the subject of a number of other research reports. Morgan Stanley upgraded Qiagen from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $49.48 to $51.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. upped their price objective on Qiagen from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. Finally, Citigroup cut their price target on Qiagen from $61.86 to $60.00 and set a "buy" rating for the company in a report on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.69.

Qiagen Stock Up 0.1 %

Shares of QGEN stock traded up $0.03 during mid-day trading on Tuesday, hitting $42.33. The company's stock had a trading volume of 2,113,233 shares, compared to its average volume of 1,220,508. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 3.51 and a beta of 0.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.62 and a current ratio of 1.99. Qiagen has a 52-week low of $34.74 and a 52-week high of $47.70. The business has a 50-day moving average price of $42.57 and a 200 day moving average price of $42.69.

Qiagen (NYSE:QGEN - Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. Qiagen had a return on equity of 12.99% and a net margin of 17.37%. The firm had revenue of $459.00 million during the quarter, compared to analysts' expectations of $453.91 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company's revenue was down 5.4% on a year-over-year basis.

Institutional Trading of Qiagen

Institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC lifted its stake in shares of Qiagen by 21.6% during the 4th quarter. Lindbrook Capital LLC now owns 1,335 shares of the company's stock worth $58,000 after acquiring an additional 237 shares during the last quarter. Xponance Inc. raised its position in Qiagen by 2.7% during the 4th quarter. Xponance Inc. now owns 9,609 shares of the company's stock valued at $417,000 after purchasing an additional 253 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Qiagen by 66.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 710 shares of the company's stock valued at $31,000 after purchasing an additional 283 shares in the last quarter. CWM LLC raised its position in Qiagen by 19.1% during the 1st quarter. CWM LLC now owns 2,236 shares of the company's stock valued at $96,000 after purchasing an additional 358 shares in the last quarter. Finally, Signaturefd LLC raised its position in Qiagen by 9.0% during the 3rd quarter. Signaturefd LLC now owns 4,686 shares of the company's stock valued at $190,000 after purchasing an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Qiagen Company Profile

QIAGEN N.V. offers sample to insight solutions that transform biological materials into molecular insights worldwide. The company provides primary sample technology consumables, such as nucleic stabilization and purification kits for primary sample materials, manual and automated processing for genotyping, gene expression, and viral and bacterial analysis, as well as silica membranes and magnetic bead technologies; secondary sample technology consumables, including kits and components for purification of nucleic acids from secondary sample materials; and instruments for nucleic acid purification and accessories.