Qiagen (NYSE:QGEN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Qiagen's rating has been upgraded from "buy" to "strong-buy" by Wall Street Zen, indicating increased confidence in the stock's potential.
• Several analysts have raised their price targets for Qiagen, with Bank of America increasing it to $53.00 and Barclays setting it at $55.00.
• Qiagen reported earnings of $0.55 per share for its latest quarter, exceeding analysts' expectations, and its revenue grew by 5.2% compared to the same quarter last year.

Qiagen (NYSE:QGEN - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Sunday.

Several other equities analysts have also recently issued reports on QGEN. Bank of America lifted their price objective on shares of Qiagen from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Barclays started coverage on shares of Qiagen in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $55.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on shares of Qiagen from $42.00 to $43.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $49.40.

Qiagen Stock Up 1.1%

QGEN stock opened at $49.90 on Friday. The company has a quick ratio of 2.83, a current ratio of 3.37 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 $51.88. The firm's 50-day simple moving average is $47.54 and its 200 day simple moving average is $43.43. The stock has a market cap of $11.09 billion, a PE ratio of 125.11, a price-to-earnings-growth ratio of 2.54 and a beta of 0.64.

Qiagen (NYSE:QGEN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. Qiagen had a net margin of 4.68% and a return on equity of 14.61%. The business had revenue of $483.46 million for the quarter, compared to analysts' expectations of $465.66 million. During the same quarter last year, the company earned $0.44 EPS. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Qiagen will post 2.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in Qiagen during the 1st quarter valued at $31,000. Farther Finance Advisors LLC raised its stake in Qiagen by 400.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,061 shares of the company's stock valued at $51,000 after purchasing an additional 849 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in Qiagen by 13,144.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,192 shares of the company's stock valued at $57,000 after purchasing an additional 1,183 shares during the last quarter. Hilltop National Bank acquired a new position in Qiagen during the 2nd quarter valued at $66,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Qiagen during the 1st quarter valued at $94,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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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