State of Alaska Department of Revenue Sells 4,524 Shares of Qiagen (NYSE:QGEN)

State of Alaska Department of Revenue cut its holdings in Qiagen (NYSE:QGEN) by 3.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 146,249 shares of the company’s stock after selling 4,524 shares during the period. State of Alaska Department of Revenue’s holdings in Qiagen were worth $6,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its stake in shares of Qiagen by 8.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,066,569 shares of the company’s stock worth $1,045,211,000 after purchasing an additional 1,809,486 shares during the last quarter. Vanguard Group Inc. raised its position in Qiagen by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 8,815,467 shares of the company’s stock worth $382,856,000 after buying an additional 83,371 shares during the last quarter. Wellington Management Group LLP raised its position in Qiagen by 20.1% in the 4th quarter. Wellington Management Group LLP now owns 7,271,828 shares of the company’s stock worth $316,463,000 after buying an additional 1,217,712 shares during the last quarter. Norges Bank bought a new position in Qiagen during the 4th quarter valued at about $264,322,000. Finally, FIL Ltd boosted its holdings in shares of Qiagen by 8.5% during the 4th quarter. FIL Ltd now owns 5,099,140 shares of the company’s stock valued at $221,784,000 after acquiring an additional 399,965 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Qiagen Stock Down 0.3 %

QGEN opened at $40.58 on Thursday. The firm’s 50 day simple moving average is $43.16 and its two-hundred day simple moving average is $43.49. The company has a market capitalization of $9.26 billion, a PE ratio of 27.21, a PEG ratio of 3.15 and a beta of 0.40. Qiagen has a 1-year low of $34.74 and a 1-year high of $47.70. The company has a current ratio of 1.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25.

Qiagen (NYSE:QGEN) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. The firm had revenue of $459.00 million during the quarter, compared to analyst estimates of $453.91 million. Qiagen had a return on equity of 12.59% and a net margin of 17.38%. Qiagen’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. As a group, equities analysts forecast that Qiagen will post 2.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Qiagen from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Stifel Nicolaus decreased their target price on shares of Qiagen from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Finally, Wolfe Research raised Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.05.

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.