Qiagen (NYSE:QGEN) Issues FY 2024 Earnings Guidance

Qiagen (NYSE:QGEN) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 2.100- for the period, compared to the consensus EPS estimate of 2.110. The company issued revenue guidance of $2.0 billion-, compared to the consensus revenue estimate of $2.0 billion. Qiagen also updated its FY24 guidance to at least $2.10 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on QGEN. Stifel Nicolaus decreased their price objective on shares of Qiagen from $55.00 to $45.00 and set a hold rating on the stock in a research report on Wednesday. Morgan Stanley upgraded shares of Qiagen from an equal weight rating to an overweight rating and upped their price objective for the stock from $49.48 to $51.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. increased their price target on shares of Qiagen from $50.00 to $52.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Finally, Citigroup reduced 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. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Qiagen currently has a consensus rating of Moderate Buy and an average price target of $50.95.

Qiagen Trading Down 1.0 %

QGEN stock traded down $0.41 on Thursday, reaching $42.40. The company’s stock had a trading volume of 403,784 shares, compared to its average volume of 1,217,944. The business has a fifty day simple moving average of $42.56 and a two-hundred day simple moving average of $42.71. Qiagen has a 12-month low of $34.74 and a 12-month high of $47.70. The firm has a market cap of $9.68 billion, a PE ratio of 28.71, a PEG ratio of 3.58 and a beta of 0.42. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.62 and a current ratio of 1.99.

Qiagen (NYSE:QGEN) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Qiagen had a return on equity of 12.50% and a net margin of 17.38%. The company had revenue of $459.00 million during the quarter, compared to analyst estimates of $453.91 million. During the same quarter last year, the firm posted $0.53 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. As a group, research analysts forecast that Qiagen will post 2.09 EPS for the current year.

About Qiagen

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.