Qiagen (NYSE:QGEN) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Qiagen (NYSE:QGEN) issued its quarterly earnings data on Wednesday. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03, Briefing.com reports. Qiagen had a return on equity of 12.67% and a net margin of 3.75%. The company had revenue of $496.00 million during the quarter, compared to analyst estimates of $495.45 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. Qiagen’s revenue was down .2% compared to the same quarter last year. Qiagen updated its FY24 guidance to $2.16 EPS.

Qiagen Price Performance

Shares of NYSE:QGEN traded up $0.49 during mid-day trading on Friday, reaching $46.29. The stock had a trading volume of 1,285,612 shares, compared to its average volume of 1,219,027. The company has a current ratio of 1.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The company has a market cap of $10.56 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 3.49 and a beta of 0.40. Qiagen has a 1 year low of $34.74 and a 1 year high of $46.85. The business’s 50 day moving average price is $42.65 and its 200 day moving average price is $43.10.

Analysts Set New Price Targets

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

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.