Edgestream Partners L.P. lessened its holdings in shares of Qiagen (NYSE:QGEN – Free Report) by 42.3% during the second quarter, Holdings Channel reports. The firm owned 33,145 shares of the company’s stock after selling 24,265 shares during the quarter. Edgestream Partners L.P.’s holdings in Qiagen were worth $1,493,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of QGEN. Raymond James & Associates lifted its position in Qiagen by 15.6% in the 1st quarter. Raymond James & Associates now owns 48,252 shares of the company’s stock valued at $2,364,000 after acquiring an additional 6,517 shares in the last quarter. Natixis Advisors L.P. bought a new position in Qiagen in the 1st quarter valued at approximately $991,000. Dimensional Fund Advisors LP lifted its position in Qiagen by 26.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 412,784 shares of the company’s stock valued at $20,229,000 after acquiring an additional 86,591 shares in the last quarter. Sei Investments Co. lifted its position in Qiagen by 24.9% in the 1st quarter. Sei Investments Co. now owns 31,235 shares of the company’s stock valued at $1,530,000 after acquiring an additional 6,231 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Qiagen by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 8,049,796 shares of the company’s stock valued at $394,440,000 after acquiring an additional 179,913 shares in the last quarter. Hedge funds and other institutional investors own 57.99% of the company’s stock.
Wall Street Analyst Weigh In
QGEN has been the subject of a number of research reports. UBS Group decreased their target price on shares of Qiagen from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. HSBC dropped their price objective on shares of Qiagen from $64.00 to $57.00 in a report on Friday, September 29th. StockNews.com began coverage on shares of Qiagen in a report on Thursday, October 5th. They issued a “buy” rating for the company. TheStreet downgraded shares of Qiagen from a “b-” rating to a “c+” rating in a report on Thursday, September 14th. Finally, Citigroup reaffirmed a “buy” rating and issued a $60.00 price target on shares of Qiagen in a report on Tuesday, September 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Qiagen presently has an average rating of “Moderate Buy” and a consensus target price of $51.80.
Qiagen Stock Performance
Qiagen stock opened at $39.85 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.74 and a quick ratio of 2.98. Qiagen has a 1-year low of $34.74 and a 1-year high of $51.18. The firm has a market capitalization of $9.09 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 11.68 and a beta of 0.40. The company’s 50-day moving average is $39.18 and its 200 day moving average is $43.12.
Qiagen (NYSE:QGEN – Get Free Report) last posted its quarterly earnings data on Monday, October 30th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Qiagen had a net margin of 17.01% and a return on equity of 13.15%. The company had revenue of $476.00 million for the quarter, compared to analyst estimates of $469.79 million. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Research analysts forecast that Qiagen will post 2.06 EPS for the current year.
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.
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