Qiagen (NYSE:QGEN) Upgraded to “Hold” at Hsbc Global Res

Hsbc Global Res upgraded shares of Qiagen (NYSE:QGEN) to a hold rating in a research note published on Thursday morning, Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Robert W. Baird lifted their price target on shares of Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wolfe Research raised shares of Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Thursday, June 27th. Finally, HSBC lowered shares of Qiagen from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research report on Thursday. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Qiagen has an average rating of “Moderate Buy” and a consensus price target of $50.12.

Qiagen Price Performance

Shares of QGEN opened at $42.69 on Thursday. The firm has a market cap of $9.74 billion, a PE ratio of 142.05, a PEG ratio of 3.36 and a beta of 0.39. The firm’s 50 day moving average price is $45.14 and its 200 day moving average price is $43.51. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.46 and a current ratio of 1.77. Qiagen has a twelve month low of $34.74 and a twelve month high of $47.44.

Qiagen (NYSE:QGEN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $496.00 million for the quarter, compared to analyst estimates of $495.45 million. Qiagen had a net margin of 3.75% and a return on equity of 12.92%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, research analysts expect that Qiagen will post 2.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Qiagen

Several hedge funds and other institutional investors have recently modified their holdings of QGEN. Vanguard Group Inc. grew its stake in shares of Qiagen by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 8,815,467 shares of the company’s stock worth $382,856,000 after acquiring an additional 83,371 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Qiagen by 45.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,903 shares of the company’s stock worth $517,000 after buying an additional 3,698 shares in the last quarter. CWM LLC boosted its stake in Qiagen by 19.1% during the first quarter. CWM LLC now owns 2,236 shares of the company’s stock worth $96,000 after buying an additional 358 shares in the last quarter. Riverview Trust Co acquired a new stake in Qiagen during the first quarter worth $28,000. Finally, Park Place Capital Corp acquired a new stake in Qiagen during the first quarter worth $36,000. Institutional investors and hedge funds own 70.00% 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.