Fifth Third Bancorp Has $3.15 Million Stake in Qiagen (NYSE:QGEN)

Fifth Third Bancorp lifted its position in shares of Qiagen (NYSE:QGEN) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,592 shares of the company’s stock after acquiring an additional 6,573 shares during the quarter. Fifth Third Bancorp’s holdings in Qiagen were worth $3,147,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Qiagen during the 1st quarter valued at $28,000. Tower Research Capital LLC TRC lifted its holdings in Qiagen by 66.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 283 shares during the period. Park Place Capital Corp acquired a new position in Qiagen during the 1st quarter worth about $36,000. Quarry LP acquired a new position in Qiagen during the 4th quarter worth about $38,000. Finally, Lindbrook Capital LLC lifted its holdings in Qiagen by 21.6% during the 4th quarter. Lindbrook Capital LLC now owns 1,335 shares of the company’s stock worth $58,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Qiagen Trading Up 0.2 %

Shares of NYSE:QGEN traded up $0.08 during midday trading on Wednesday, reaching $47.05. The company’s stock had a trading volume of 781,853 shares, compared to its average volume of 1,143,603. Qiagen has a fifty-two week low of $34.74 and a fifty-two week high of $47.17. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 3.28 and a beta of 0.40. The firm has a 50 day moving average price of $43.11 and a two-hundred day moving average price of $43.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.46 and a current ratio of 1.77.

Qiagen (NYSE:QGEN) last issued its earnings results on Wednesday, July 31st. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Qiagen had a return on equity of 12.92% and a net margin of 3.75%. The business had revenue of $496.00 million during the quarter, compared to analyst estimates of $495.45 million. During the same period in the previous year, the company posted $0.53 EPS. The firm’s revenue was down .2% compared to the same quarter last year. As a group, analysts forecast that Qiagen will post 2.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird lifted their target price on Qiagen from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wolfe Research raised Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Thursday, June 27th. JPMorgan Chase & Co. lifted their target price on Qiagen from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Finally, Stifel Nicolaus cut their target price on Qiagen from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.10.

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.