Citigroup Inc. Trims Holdings in Qiagen (NYSE:QGEN)

Citigroup Inc. reduced its holdings in shares of Qiagen (NYSE:QGEN) by 71.6% in the third quarter, HoldingsChannel reports. The fund owned 409,686 shares of the company’s stock after selling 1,033,291 shares during the period. Citigroup Inc.’s holdings in Qiagen were worth $18,504,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of QGEN. GAMMA Investing LLC lifted its holdings in shares of Qiagen by 806.5% during the third quarter. GAMMA Investing LLC now owns 562 shares of the company’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. Toronto Dominion Bank purchased a new position in Qiagen during the second quarter valued at $27,000. Massmutual Trust Co. FSB ADV boosted its holdings in Qiagen by 39.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 853 shares of the company’s stock worth $39,000 after acquiring an additional 243 shares in the last quarter. CWM LLC grew its stake in shares of Qiagen by 12.0% in the second quarter. CWM LLC now owns 2,505 shares of the company’s stock worth $103,000 after acquiring an additional 269 shares during the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Qiagen by 396.6% during the second quarter. Headlands Technologies LLC now owns 2,741 shares of the company’s stock valued at $113,000 after acquiring an additional 2,189 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Qiagen Price Performance

Shares of QGEN opened at $43.26 on Wednesday. The firm has a market cap of $9.87 billion, a PE ratio of 110.74, a P/E/G ratio of 3.32 and a beta of 0.41. Qiagen has a 1-year low of $39.03 and a 1-year high of $47.44. The company has a current ratio of 2.17, a quick ratio of 1.89 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $43.37 and a two-hundred day simple moving average of $43.73.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. HSBC downgraded shares of Qiagen from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research report on Thursday, October 17th. Finally, Hsbc Global Res upgraded Qiagen to a “hold” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Qiagen has an average rating of “Moderate Buy” and an average target price of $50.88.

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.