Bank of New York Mellon Corp Boosts Holdings in Qiagen (NYSE:QGEN)

Bank of New York Mellon Corp grew its position in shares of Qiagen (NYSE:QGEN) by 6.3% during the second quarter, HoldingsChannel reports. The firm owned 972,131 shares of the company’s stock after buying an additional 57,444 shares during the period. Bank of New York Mellon Corp’s holdings in Qiagen were worth $39,945,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QGEN. CWM LLC increased 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 buying an additional 269 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Qiagen by 2.2% in the fourth quarter. Eagle Asset Management Inc. now owns 20,338 shares of the company’s stock worth $883,000 after buying an additional 430 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Qiagen by 1.0% in the fourth quarter. TD Asset Management Inc now owns 53,531 shares of the company’s stock worth $2,330,000 after buying an additional 554 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Qiagen in the first quarter worth $28,000. Finally, Park Place Capital Corp bought a new stake in shares of Qiagen in the first quarter worth $36,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Qiagen Stock Performance

QGEN stock opened at $45.71 on Tuesday. The company has a market capitalization of $10.43 billion, a P/E ratio of 30.65, a PEG ratio of 3.26 and a beta of 0.40. The company has a 50-day simple moving average of $43.66 and a 200 day simple moving average of $43.28. Qiagen has a fifty-two week low of $34.74 and a fifty-two week high of $47.44. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.27.

Qiagen (NYSE:QGEN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The business had revenue of $496.00 million during the quarter, compared to the consensus estimate of $495.45 million. Qiagen had a net margin of 3.75% and a return on equity of 12.92%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. Sell-side analysts predict that Qiagen will post 2.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on QGEN shares. Robert W. Baird lifted their price target on shares of Qiagen from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Qiagen from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Finally, Wolfe Research raised shares of Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Thursday, June 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.10.

Qiagen 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.