Qiagen (NYSE:QGEN – Get Free Report) updated its FY23 earnings guidance on Tuesday. The company provided EPS guidance of at least $2.07 for the period, compared to the consensus EPS estimate of $2.11. The company issued revenue guidance of at least $1.97 billion, compared to the consensus revenue estimate of $2.05 billion. Qiagen also updated its FY 2023 guidance to $2.07- EPS.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. UBS Group reduced their target price on shares of Qiagen from $50.00 to $48.00 in a report on Wednesday. StockNews.com assumed coverage on shares of Qiagen in a report on Thursday, May 18th. They issued a buy rating for the company. Finally, Morgan Stanley upgraded shares of Qiagen from an equal weight rating to an overweight rating in a report on Tuesday, May 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Qiagen currently has an average rating of Moderate Buy and a consensus price target of $54.20.
Check Out Our Latest Stock Analysis on QGEN
Qiagen Stock Performance
Qiagen (NYSE:QGEN – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $497.00 million for the quarter, compared to analyst estimates of $492.21 million. Qiagen had a return on equity of 14.08% and a net margin of 17.66%. Qiagen’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. As a group, equities analysts anticipate that Qiagen will post 2.11 EPS for the current fiscal year.
Institutional Investors Weigh In On Qiagen
Several hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its position in shares of Qiagen by 23.1% during the 1st quarter. Captrust Financial Advisors now owns 1,232 shares of the company’s stock valued at $60,000 after buying an additional 231 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Qiagen during the 4th quarter valued at approximately $78,000. Macquarie Group Ltd. purchased a new position in shares of Qiagen during the 3rd quarter valued at approximately $121,000. Vident Investment Advisory LLC purchased a new position in shares of Qiagen during the 4th quarter valued at approximately $228,000. Finally, Delphia USA Inc. purchased a new position in shares of Qiagen during the 1st quarter valued at approximately $230,000. Hedge funds and other institutional investors own 57.01% of the company’s stock.
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.
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