Qiagen (NYSE:QGEN) Issues Earnings Results

Qiagen (NYSE:QGEN - Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.02, RTT News reports. The business had revenue of $459.00 million during the quarter, compared to analysts' expectations of $453.91 million. Qiagen had a net margin of 17.37% and a return on equity of 12.99%. The business's quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. Qiagen updated its FY24 guidance to at least $2.10 EPS and its FY 2024 guidance to 2.100- EPS.

Qiagen Trading Up 0.1 %

Shares of QGEN stock traded up $0.03 during trading hours on Tuesday, hitting $42.33. 2,295,830 shares of the company were exchanged, compared to its average volume of 1,220,508. The firm has a market cap of $9.66 billion, a PE ratio of 27.97, a PEG ratio of 3.51 and a beta of 0.41. Qiagen has a 1 year low of $34.74 and a 1 year high of $47.70. The company has a quick ratio of 1.62, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average of $42.57 and a 200 day moving average of $42.69.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup dropped their price target on shares of Qiagen from $61.86 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, February 8th. JPMorgan Chase & Co. raised their price target on shares of Qiagen from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Finally, Morgan Stanley raised shares of Qiagen from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $49.48 to $51.00 in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Qiagen has an average rating of "Moderate Buy" and an average price target of $51.69.

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.