Q2 2024 Earnings Estimate for Qiagen (NYSE:QGEN) Issued By William Blair

Qiagen (NYSE:QGEN) – Equities research analysts at William Blair dropped their Q2 2024 earnings estimates for Qiagen in a research report issued on Wednesday, May 1st. William Blair analyst A. Brackmann now anticipates that the company will post earnings per share of $0.52 for the quarter, down from their previous estimate of $0.53. The consensus estimate for Qiagen’s current full-year earnings is $2.09 per share. William Blair also issued estimates for Qiagen’s Q3 2024 earnings at $0.52 EPS and Q4 2024 earnings at $0.61 EPS.

Several other research firms also recently commented on QGEN. Citigroup dropped their price target on shares of Qiagen from $61.86 to $60.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Morgan Stanley raised 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. JPMorgan Chase & Co. lifted their target price on shares of Qiagen from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus dropped their price objective on Qiagen from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.95.

Qiagen Stock Up 0.9 %

Shares of NYSE QGEN opened at $42.95 on Monday. Qiagen has a 52-week low of $34.74 and a 52-week high of $47.70. The company has a quick ratio of 1.45, a current ratio of 1.84 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $42.50 and its two-hundred day moving average is $42.83. The firm has a market cap of $9.80 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.64 and a beta of 0.42.

Qiagen (NYSE:QGEN) last posted its earnings results on Monday, April 29th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Qiagen had a return on equity of 12.59% and a net margin of 17.38%. The company had revenue of $459.00 million for the quarter, compared to the consensus estimate of $453.91 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis.

Hedge Funds Weigh In On Qiagen

Institutional investors have recently made changes to their positions in the stock. Riverview Trust Co purchased a new position in shares of Qiagen during the 1st quarter worth $28,000. Briaud Financial Planning Inc acquired a new stake in shares of Qiagen in the third quarter valued at about $31,000. Tower Research Capital LLC TRC raised its stake in shares of Qiagen by 66.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 710 shares of the company’s stock valued at $31,000 after purchasing an additional 283 shares during the period. Park Place Capital Corp purchased a new stake in Qiagen during the 1st quarter worth $36,000. Finally, Quarry LP purchased a new stake in shares of Qiagen during the fourth quarter worth about $38,000. 70.00% of the stock is owned by institutional investors and hedge funds.

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.