Qiagen (NYSE:QGEN) Issues FY24 Earnings Guidance

Qiagen (NYSE:QGEN) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of at least $2.19 for the period, compared to the consensus EPS estimate of $2.15. The company issued revenue guidance of at least $1.985 billion, compared to the consensus revenue estimate of $1.97 billion. Qiagen also updated its FY 2024 guidance to 2.190- EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on QGEN shares. HSBC lowered Qiagen from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Thursday, October 17th. Robert W. Baird lifted their price objective on Qiagen from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Hsbc Global Res raised Qiagen to a “hold” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.88.

Qiagen Stock Performance

Shares of NYSE QGEN traded down $0.39 during midday trading on Friday, reaching $43.76. The company’s stock had a trading volume of 805,716 shares, compared to its average volume of 1,170,116. Qiagen has a 12-month low of $37.51 and a 12-month high of $47.44. The firm has a 50 day moving average price of $44.08 and a 200-day moving average price of $43.70. The stock has a market capitalization of $9.99 billion, a P/E ratio of 112.74, a PEG ratio of 3.35 and a beta of 0.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.46.

Qiagen (NYSE:QGEN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. Qiagen had a return on equity of 13.35% and a net margin of 4.73%. The business had revenue of $501.87 million for the quarter, compared to the consensus estimate of $490.53 million. As a group, equities analysts predict that Qiagen will post 2.15 earnings per share for the current year.

Qiagen Company 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.