Qiagen N.V. (QGEN) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Qiagen N.V. (NASDAQ:QGEN) from a buy rating to a hold rating in a research note released on Monday.

According to Zacks, “QIAGEN’s commitment to return more to its shareholders through increased share repurchases reflects solid cash position. We are also upbeat about QIAGEN’s partnership and co-marketing agreement with CENTOGENE AG to boost its bioinformatics portfolio. Moreover, the company’s strategic focus to drive growth through Sample to Insight offerings buoys optimism. QIAGEN is forming collaborations in the personalized homecare space also. Moreover, QIAsymphony continued to grow towards the target of 2,000 cumulative placements by 2017 end. On the flip side, over the last three months, QIAGEN has been trading below the broader industry. Moreover, adverse currency translation continues to be a drag on overall sales. Furthermore, declining HPV sales in the United States continues to be a drag. Competitive landscape and strong reliance on collaborations also continue to be concerns.”

A number of other research firms also recently commented on QGEN. Commerzbank Ag restated a buy rating on shares of Qiagen N.V. in a research report on Friday, June 23rd. Deutsche Bank AG restated a buy rating on shares of Qiagen N.V. in a research report on Monday, July 24th. Bank of America Corporation restated a neutral rating and issued a $36.00 target price (up previously from $33.00) on shares of Qiagen N.V. in a research report on Friday, July 21st. Barclays PLC restated an overweight rating and issued a $37.00 target price (up previously from $33.00) on shares of Qiagen N.V. in a research report on Monday, July 17th. Finally, BidaskClub upgraded Qiagen N.V. from a hold rating to a buy rating in a research report on Wednesday, July 19th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $33.28.

Qiagen N.V. (QGEN) traded up 0.03% during mid-day trading on Monday, reaching $34.31. The company’s stock had a trading volume of 76,628 shares. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 104.92 and a beta of 1.14. The firm’s 50 day moving average price is $32.81 and its 200 day moving average price is $32.35. Qiagen N.V. has a 12-month low of $24.89 and a 12-month high of $36.34.

Qiagen N.V. (NASDAQ:QGEN) last posted its earnings results on Thursday, July 27th. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Qiagen N.V. had a return on equity of 11.04% and a net margin of 5.44%. The company had revenue of $349.00 million for the quarter, compared to the consensus estimate of $353.09 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts predict that Qiagen N.V. will post $1.21 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of QGEN. BlackRock Inc. raised its holdings in shares of Qiagen N.V. by 8,793.4% in the 1st quarter. BlackRock Inc. now owns 7,839,636 shares of the company’s stock valued at $227,114,000 after buying an additional 7,751,485 shares during the period. Legal & General Group Plc raised its holdings in shares of Qiagen N.V. by 2,651.3% in the 1st quarter. Legal & General Group Plc now owns 1,896,813 shares of the company’s stock valued at $16,690,000 after buying an additional 1,827,871 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Qiagen N.V. by 182.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,514,898 shares of the company’s stock valued at $43,890,000 after buying an additional 979,498 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Qiagen N.V. in the 2nd quarter valued at $26,408,000. Finally, AQR Capital Management LLC raised its holdings in shares of Qiagen N.V. by 1,120.2% in the 1st quarter. AQR Capital Management LLC now owns 783,087 shares of the company’s stock valued at $22,691,000 after buying an additional 718,912 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Qiagen N.V.

QIAGEN N.V. (QIAGEN) is a holding company. The Company is engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Its Sample to Insight solutions integrate sample and assay technologies, bioinformatics and automation systems. Its sample technologies are used for isolating and preparing deoxyribonucleic acid (DNA), ribonucleic acid (RNA) and proteins from blood or other liquids, tissue, plants or other materials.

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