Qiagen (NYSE:QGEN) Rating Increased to Hold at Hsbc Global Res

Hsbc Global Res upgraded shares of Qiagen (NYSE:QGEN) to a hold rating in a research report released on Thursday morning, Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Robert W. Baird increased their target price on Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wolfe Research upgraded shares of Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Thursday, June 27th. Finally, HSBC downgraded shares of Qiagen from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.12.

Qiagen Price Performance

Shares of QGEN stock opened at $43.00 on Thursday. Qiagen has a twelve month low of $34.74 and a twelve month high of $47.44. The company has a market capitalization of $9.81 billion, a PE ratio of 143.09, a price-to-earnings-growth ratio of 3.36 and a beta of 0.39. The company has a current ratio of 1.77, a quick ratio of 1.46 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $45.10 and a 200-day simple moving average of $43.54.

Qiagen (NYSE:QGEN) last announced its earnings results on Wednesday, July 31st. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. Qiagen had a return on equity of 12.92% and a net margin of 3.75%. The company had revenue of $496.00 million during the quarter, compared to the consensus estimate of $495.45 million. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue was down .2% on a year-over-year basis. Equities research analysts anticipate that Qiagen will post 2.15 earnings per share for the current fiscal year.

Institutional Trading of Qiagen

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in Qiagen by 16.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,320,088 shares of the company’s stock valued at $105,726,000 after purchasing an additional 324,417 shares during the last quarter. Blue Trust Inc. grew its position in Qiagen by 6.5% in the 3rd quarter. Blue Trust Inc. now owns 8,405 shares of the company’s stock worth $383,000 after purchasing an additional 514 shares during the last quarter. Creative Planning increased its stake in shares of Qiagen by 12.7% in the third quarter. Creative Planning now owns 40,571 shares of the company’s stock valued at $1,849,000 after purchasing an additional 4,561 shares during the period. CWM LLC raised its holdings in shares of Qiagen by 11.5% during the third quarter. CWM LLC now owns 2,792 shares of the company’s stock valued at $127,000 after buying an additional 287 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Qiagen by 806.5% during the third quarter. GAMMA Investing LLC now owns 562 shares of the company’s stock worth $26,000 after buying an additional 500 shares during the period. Institutional investors own 70.00% of the company’s stock.

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.