Q2 2024 Earnings Estimate for Qiagen (NYSE:QGEN) Issued By Zacks Research

Qiagen (NYSE:QGEN) – Investment analysts at Zacks Research cut their Q2 2024 earnings estimates for shares of Qiagen in a report issued on Monday, April 29th. Zacks Research analyst M. Mondal now expects that the company will post earnings per share of $0.51 for the quarter, down from their prior forecast of $0.52. The consensus estimate for Qiagen’s current full-year earnings is $2.09 per share. Zacks Research also issued estimates for Qiagen’s Q3 2024 earnings at $0.52 EPS, FY2024 earnings at $2.07 EPS, Q1 2025 earnings at $0.50 EPS, Q2 2025 earnings at $0.57 EPS, FY2025 earnings at $2.22 EPS, Q1 2026 earnings at $0.56 EPS and FY2026 earnings at $2.45 EPS.

A number of other brokerages also recently issued reports on QGEN. JPMorgan Chase & Co. raised their price target on shares of Qiagen from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Morgan Stanley upgraded Qiagen from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $49.48 to $51.00 in a research report on Friday, February 16th. Finally, Citigroup reduced their target price on Qiagen from $61.86 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Qiagen currently has an average rating of “Moderate Buy” and a consensus price target of $51.69.

Qiagen Price Performance

Qiagen stock opened at $42.33 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.62 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $42.56 and a 200 day moving average price of $42.71. Qiagen has a 12-month low of $34.74 and a 12-month high of $47.70. The stock has a market cap of $9.66 billion, a P/E ratio of 27.98, a PEG ratio of 3.51 and a beta of 0.41.

Qiagen (NYSE:QGEN) last announced its quarterly earnings data 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 12.99% and a net margin of 17.37%. The firm had revenue of $459.00 million for the quarter, compared to the consensus estimate of $453.91 million. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. grew its holdings in shares of Qiagen by 66.1% in the third quarter. Panagora Asset Management Inc. now owns 60,648 shares of the company’s stock valued at $2,456,000 after purchasing an additional 24,144 shares in the last quarter. Alaska Permanent Fund Corp purchased a new stake in shares of Qiagen during the third quarter worth $1,582,000. Xponance Inc. increased its position in shares of Qiagen by 9.1% during the third quarter. Xponance Inc. now owns 9,356 shares of the company’s stock worth $379,000 after acquiring an additional 780 shares during the period. ING Groep NV raised its stake in shares of Qiagen by 28.4% in the third quarter. ING Groep NV now owns 257,392 shares of the company’s stock valued at $10,424,000 after acquiring an additional 56,901 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Qiagen by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 255,837 shares of the company’s stock valued at $10,361,000 after purchasing an additional 35,297 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Qiagen Company Profile

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.