Seven Eight Capital LP trimmed its stake in shares of Qiagen (NYSE:QGEN – Free Report) by 10.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,385 shares of the company’s stock after selling 1,749 shares during the quarter. Seven Eight Capital LP’s holdings in Qiagen were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Captrust Financial Advisors raised its holdings in shares of Qiagen by 23.1% in the 1st quarter. Captrust Financial Advisors now owns 1,232 shares of the company’s stock worth $60,000 after purchasing an additional 231 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Qiagen by 41.6% in the 1st quarter. Assetmark Inc. now owns 834 shares of the company’s stock worth $38,000 after purchasing an additional 245 shares in the last quarter. Pitcairn Co. raised its holdings in shares of Qiagen by 4.4% in the 1st quarter. Pitcairn Co. now owns 6,988 shares of the company’s stock worth $321,000 after purchasing an additional 294 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Qiagen by 4.9% in the 1st quarter. Prudential Financial Inc. now owns 6,921 shares of the company’s stock worth $327,000 after purchasing an additional 325 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Qiagen by 9.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 5,621 shares of the company’s stock worth $258,000 after purchasing an additional 465 shares in the last quarter. 57.99% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on QGEN. UBS Group dropped their target price on shares of Qiagen from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. StockNews.com began coverage on shares of Qiagen in a research report on Wednesday, August 23rd. They issued a “buy” rating on the stock. Finally, Morgan Stanley raised shares of Qiagen from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 23rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.20.
Qiagen Stock Performance
Shares of QGEN opened at $41.57 on Monday. The company’s 50 day moving average is $45.05. Qiagen has a 52 week low of $40.38 and a 52 week high of $51.18. The stock has a market capitalization of $9.48 billion, a P/E ratio of 28.28, a PEG ratio of 10.19 and a beta of 0.37. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.36 and a quick ratio of 1.96.
Qiagen (NYSE:QGEN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Qiagen had a net margin of 17.04% and a return on equity of 13.72%. The firm had revenue of $497.00 million for the quarter, compared to the consensus estimate of $492.21 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The firm’s revenue was down 8.6% on a year-over-year basis. On average, equities analysts forecast that Qiagen will post 2.07 earnings per share for the current fiscal year.
Qiagen 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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