UBS Group Forecasts Strong Price Appreciation for Qiagen (NYSE:QGEN) Stock

Key Points

• UBS Group has raised its target price for Qiagen's stock from $48.00 to $50.00, indicating a potential upside of 4.19% based on the stock's current price.
• Several analysts have upgraded their ratings, with Bank of America setting a new target price of $53.00 and Barclays issuing a $55.00 target, reflecting increasing confidence in Qiagen's performance.
• Qiagen's recent quarterly earnings report showed an EPS of $0.60 and a revenue of $533.54 million, surpassing analyst expectations and marking a 7.7% increase year-over-year.

Qiagen (NYSE:QGEN - Get Free Report) had its target price hoisted by equities research analysts at UBS Group from $48.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target would suggest a potential upside of 4.19% from the stock's current price.

Several other research analysts have also commented on the stock. Bank of America raised 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 upgraded shares of Qiagen from a "buy" rating to a "strong-buy" rating in a report on Sunday. Barclays initiated 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, Robert W. Baird raised their price target on shares of 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, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Qiagen currently has a consensus rating of "Hold" and an average target price of $49.69.

Qiagen Price Performance

Shares of NYSE QGEN traded up $0.50 during midday trading on Thursday, hitting $47.99. The company had a trading volume of 985,428 shares, compared to its average volume of 1,385,249. 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 twelve month low of $37.63 and a twelve month high of $51.88. The business has a 50-day simple moving average of $47.89 and a two-hundred day simple moving average of $43.53. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 2.54 and a beta of 0.64.

Qiagen (NYSE:QGEN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.60 EPS for the quarter, meeting analysts' consensus estimates of $0.60. The firm had revenue of $533.54 million for the quarter, compared to analysts' expectations of $523.97 million. Qiagen had a net margin of 18.30% and a return on equity of 14.77%. The firm's revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS. Equities research analysts anticipate that Qiagen will post 2.26 earnings per share for the current year.

Institutional Investors Weigh In On Qiagen

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

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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