Signaturefd LLC Reduces Holdings in Qiagen (NYSE:QGEN)

Posted by on Jul 25th, 2023

Signaturefd LLC lowered its holdings in shares of Qiagen (NYSE:QGEN – Free Report) by 18.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,542 shares of the company’s stock after selling 591 shares during the period. Signaturefd LLC’s holdings in Qiagen were worth $117,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of QGEN. Norges Bank acquired a new stake in Qiagen during the 4th quarter worth $288,658,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Qiagen by 55.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,886,330 shares of the company’s stock worth $130,783,000 after acquiring an additional 1,034,406 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Qiagen by 3,367.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 647,354 shares of the company’s stock worth $32,074,000 after acquiring an additional 628,682 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Qiagen by 63.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,269,199 shares of the company’s stock worth $63,296,000 after acquiring an additional 494,199 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Qiagen by 14.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,498,030 shares of the company’s stock worth $171,979,000 after acquiring an additional 434,472 shares during the period. Institutional investors and hedge funds own 57.01% of the company’s stock.

Qiagen Stock Performance

Shares of QGEN opened at $46.79 on Tuesday. The company has a 50-day simple moving average of $45.58 and a 200-day simple moving average of $45.80. The company has a quick ratio of 2.10, a current ratio of 2.53 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $10.66 billion, a PE ratio of 30.38, a P/E/G ratio of 8.52 and a beta of 0.37. Qiagen has a 52-week low of $40.38 and a 52-week high of $51.18.

Qiagen (NYSE:QGEN – Get Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The business had revenue of $485.40 million during the quarter, compared to the consensus estimate of $478.23 million. Qiagen had a net margin of 17.66% and a return on equity of 14.08%. The business’s revenue was down 22.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 EPS. Equities research analysts predict that Qiagen will post 2.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on QGEN shares. Morgan Stanley upgraded shares of Qiagen from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 23rd. StockNews.com started coverage on shares of Qiagen in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Finally, UBS Group reduced their target price on shares of Qiagen from $52.00 to $50.00 in a research note on Friday, May 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.87.

Qiagen Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Qiagen (NYSE:QGEN)

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