Qiagen (NYSE:QGEN) Price Target Raised to $53.00 at Bank of America

Qiagen (NYSE:QGEN - Get Free Report) had its price objective raised by equities research analysts at Bank of America from $50.00 to $53.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 10.90% from the company's current price.

QGEN has been the subject of a number of other reports. Barclays started coverage on shares of Qiagen in a research note on Tuesday. They issued an "overweight" rating and a $55.00 price objective for the company. Wall Street Zen upgraded Qiagen from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 15th. Redburn Atlantic lowered Qiagen from a "buy" rating to a "neutral" rating in a research note on Friday, April 4th. Finally, Robert W. Baird raised their price target on Qiagen from $42.00 to $43.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Qiagen currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.30.

Qiagen Price Performance

NYSE QGEN traded up $0.34 during trading on Thursday, hitting $47.79. 530,897 shares of the company's stock were exchanged, compared to its average volume of 1,189,937. The company has a market cap of $10.62 billion, a PE ratio of 119.86, a P/E/G ratio of 2.41 and a beta of 0.67. The company has a current ratio of 3.37, a quick ratio of 2.83 and a debt-to-equity ratio of 0.40. Qiagen has a fifty-two week low of $37.63 and a fifty-two week high of $49.30. The stock's 50 day moving average price is $43.92 and its two-hundred day moving average price is $42.47.

Qiagen (NYSE:QGEN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. The firm had revenue of $483.46 million for the quarter, compared to analyst estimates of $465.66 million. Qiagen had a net margin of 4.68% and a return on equity of 14.61%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. Research analysts expect that Qiagen will post 2.26 EPS for the current year.

Institutional Trading of Qiagen

Several hedge funds have recently modified their holdings of QGEN. SVB Wealth LLC purchased a new stake in shares of Qiagen during the 1st quarter worth approximately $31,000. Brown Brothers Harriman & Co. purchased a new position in shares of Qiagen in the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC lifted its position in shares of Qiagen by 152.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company's stock valued at $39,000 after acquiring an additional 526 shares during the period. Smartleaf Asset Management LLC boosted its position in Qiagen by 148.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,399 shares of the company's stock worth $63,000 after purchasing an additional 835 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Qiagen in the 1st quarter worth about $94,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Qiagen Company Profile

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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