Arbejdsmarkedets Tillaegspension Makes New Investment in Qiagen N.V. $QGEN

Arbejdsmarkedets Tillaegspension acquired a new position in shares of Qiagen N.V. (NYSE:QGEN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 510,513 shares of the company’s stock, valued at approximately $22,958,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of Qiagen by 61.0% in the 4th quarter. Allworth Financial LP now owns 2,186 shares of the company’s stock valued at $98,000 after acquiring an additional 828 shares during the period. Gateway Investment Advisers LLC raised its position in shares of Qiagen by 105.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 55,094 shares of the company’s stock valued at $2,478,000 after acquiring an additional 28,313 shares during the period. Truist Financial Corp grew its holdings in shares of Qiagen by 4.1% in the 4th quarter. Truist Financial Corp now owns 8,421 shares of the company’s stock valued at $379,000 after buying an additional 331 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Qiagen by 42.9% in the 4th quarter. New York State Teachers Retirement System now owns 13,380 shares of the company’s stock valued at $602,000 after buying an additional 4,017 shares during the period. Finally, Keybank National Association OH grew its holdings in shares of Qiagen by 21.3% in the 4th quarter. Keybank National Association OH now owns 13,505 shares of the company’s stock valued at $607,000 after buying an additional 2,371 shares during the period. 70.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QGEN. TD Cowen reissued a “hold” rating and issued a $40.00 price target (down from $46.00) on shares of Qiagen in a report on Thursday, May 7th. Weiss Ratings cut Qiagen from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Citigroup lowered their target price on Qiagen from $55.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. Barclays set a $38.00 target price on Qiagen and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered their target price on Qiagen from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Qiagen currently has a consensus rating of “Moderate Buy” and an average price target of $46.38.

Qiagen Price Performance

Shares of QGEN opened at $33.00 on Friday. The stock has a market capitalization of $6.80 billion, a P/E ratio of 17.24, a P/E/G ratio of 3.31 and a beta of 0.64. Qiagen N.V. has a twelve month low of $32.53 and a twelve month high of $57.81. The company has a 50 day moving average of $39.08 and a 200-day moving average of $45.64. The company has a quick ratio of 3.31, a current ratio of 3.21 and a debt-to-equity ratio of 0.49.

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

Qiagen Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, July 7th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a dividend yield of 104.0%. This is an increase from Qiagen’s previous annual dividend of $0.26. Qiagen’s dividend payout ratio (DPR) is 13.61%.

About Qiagen

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.