Prentiss Smith & Co. Inc. Takes $3.92 Million Position in Qiagen (NYSE:QGEN)

Prentiss Smith & Co. Inc. purchased a new position in shares of Qiagen (NYSE:QGEN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,986 shares of the company’s stock, valued at approximately $3,918,000. Qiagen comprises 2.5% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 16th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Qiagen by 16.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,320,088 shares of the company’s stock valued at $105,726,000 after buying an additional 324,417 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Qiagen by 6.5% in the third quarter. Blue Trust Inc. now owns 8,405 shares of the company’s stock worth $383,000 after purchasing an additional 514 shares in the last quarter. Creative Planning raised its position in Qiagen by 12.7% during the third quarter. Creative Planning now owns 40,571 shares of the company’s stock valued at $1,849,000 after acquiring an additional 4,561 shares in the last quarter. CWM LLC raised its position in Qiagen by 11.5% during the third quarter. CWM LLC now owns 2,792 shares of the company’s stock valued at $127,000 after acquiring an additional 287 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Qiagen by 806.5% during the third quarter. GAMMA Investing LLC now owns 562 shares of the company’s stock valued at $26,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Qiagen Stock Performance

QGEN traded down $0.86 during trading hours on Monday, reaching $42.14. The company’s stock had a trading volume of 216,887 shares, compared to its average volume of 1,189,310. The company’s 50-day moving average is $45.10 and its 200-day moving average is $43.54. Qiagen has a 52 week low of $34.74 and a 52 week high of $47.44. The firm has a market cap of $9.62 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 3.36 and a beta of 0.39. 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 (NYSE:QGEN) last released its earnings results on Wednesday, July 31st. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $496.00 million during the quarter, compared to the consensus estimate of $495.45 million. Qiagen had a return on equity of 12.92% and a net margin of 3.75%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. On average, equities analysts forecast that Qiagen will post 2.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QGEN. Wolfe Research upgraded shares of Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Thursday, June 27th. HSBC downgraded shares of Qiagen from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Thursday. Robert W. Baird increased their price target on Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Hsbc Global Res upgraded Qiagen to a “hold” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.12.

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.