Cannon Global Investment Management LLC Makes New Investment in Qiagen N.V. $QGEN

Cannon Global Investment Management LLC bought a new stake in shares of Qiagen N.V. (NYSE:QGEN) during the 1st quarter, HoldingsChannel.com reports. The firm bought 34,400 shares of the company’s stock, valued at approximately $1,377,000. Qiagen accounts for 2.7% of Cannon Global Investment Management LLC’s portfolio, making the stock its 6th largest position.

A number of other hedge funds also recently modified their holdings of the business. Boston Partners acquired a new stake in shares of Qiagen in the third quarter worth $179,450,000. Norges Bank acquired a new position in Qiagen during the fourth quarter valued at $166,500,000. Dimensional Fund Advisors LP purchased a new stake in Qiagen in the 3rd quarter worth about $58,079,000. Price T Rowe Associates Inc. MD lifted its stake in Qiagen by 12.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,429,424 shares of the company’s stock worth $379,072,000 after acquiring an additional 906,589 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Qiagen by 9.7% during the 4th quarter. Deutsche Bank AG now owns 7,907,801 shares of the company’s stock worth $355,614,000 after acquiring an additional 697,342 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $43.00 target price on shares of Qiagen in a research note on Thursday, April 30th. Wall Street Zen lowered shares of Qiagen from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Morgan Stanley raised shares of Qiagen from an “overweight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Qiagen from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Barclays set a $38.00 target price on shares of Qiagen and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Qiagen presently has an average rating of “Hold” and an average target price of $43.15.

Qiagen Stock Performance

Shares of NYSE QGEN opened at $38.95 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.21 and a quick ratio of 2.57. Qiagen N.V. has a one year low of $32.53 and a one year high of $57.81. The business’s 50-day moving average price is $36.39 and its two-hundred day moving average price is $43.19. The company has a market capitalization of $8.03 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 3.87 and a beta of 0.66.

Qiagen (NYSE:QGEN) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $492.32 million during the quarter, compared to the consensus estimate of $496.15 million. Qiagen had a return on equity of 14.40% and a net margin of 19.16%.During the same period last year, the business earned $0.56 EPS. Analysts anticipate that Qiagen N.V. will post 2.43 earnings per share for the current fiscal year.

Qiagen Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, July 7th will be paid a $0.35 dividend. This represents a yield of 104.0%. This is a boost from Qiagen’s previous annual dividend of $0.26. The ex-dividend date is Tuesday, July 7th. Qiagen’s dividend payout ratio is presently 13.61%.

Qiagen Profile

Qiagen NV (NYSE: QGEN) is a global provider of sample and assay technologies designed to enable molecular testing in the fields of molecular diagnostics, applied testing, academic research and pharmaceutical development. The company’s solutions span the full workflow of nucleic acid and protein analysis, offering customers standardized kits, instruments and software tools that streamline the preparation, detection and quantification of DNA, RNA and proteins.

The company’s product portfolio includes nucleic acid extraction and purification systems, polymerase chain reaction (PCR) reagents and instrumentation, digital PCR platforms, next-generation sequencing (NGS) library‐preparation kits and proteomics solutions.