Qiagen (NYSE:QGEN) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Qiagen (NYSE:QGEN) posted its quarterly earnings results on Wednesday. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03, Briefing.com reports. The firm had revenue of $496.00 million during the quarter, compared to the consensus estimate of $495.45 million. Qiagen had a return on equity of 12.59% and a net margin of 17.38%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. Qiagen updated its FY24 guidance to $2.16 EPS.

Qiagen Stock Down 0.5 %

QGEN stock opened at $44.49 on Thursday. The company has a market capitalization of $10.15 billion, a P/E ratio of 29.83, a PEG ratio of 3.46 and a beta of 0.40. The firm has a 50 day simple moving average of $42.53 and a 200-day simple moving average of $43.07. 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 has a twelve month low of $34.74 and a twelve month high of $47.32.

Analysts Set New Price Targets

QGEN has been the subject of a number of research reports. Wolfe Research upgraded Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Thursday, June 27th. Stifel Nicolaus decreased their price objective 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, JPMorgan Chase & Co. raised their target price on shares of Qiagen from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.05.

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.