Qiagen (NYSE:QGEN) Issues FY24 Earnings Guidance

Qiagen (NYSE:QGEN) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of at least $2.19 for the period, compared to the consensus EPS estimate of $2.15. The company issued revenue guidance of at least $1.985 billion, compared to the consensus revenue estimate of $1.97 billion. Qiagen also updated its FY 2024 guidance to 2.190- EPS.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HSBC cut Qiagen from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Thursday, October 17th. Hsbc Global Res raised Qiagen to a “hold” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird upped 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. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Qiagen has an average rating of “Moderate Buy” and a consensus price target of $50.88.

Qiagen Trading Down 0.9 %

NYSE QGEN traded down $0.39 during trading on Friday, hitting $43.76. 805,716 shares of the company’s stock traded hands, compared to its average volume of 1,170,116. The stock has a fifty day moving average of $44.08 and a two-hundred day moving average of $43.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.46. Qiagen has a 12-month low of $37.51 and a 12-month high of $47.44. The firm has a market cap of $9.99 billion, a P/E ratio of 112.74, a PEG ratio of 3.35 and a beta of 0.41.

Qiagen (NYSE:QGEN) last posted its earnings results on Wednesday, November 6th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $501.87 million during the quarter, compared to analyst estimates of $490.53 million. Qiagen had a net margin of 4.73% and a return on equity of 13.35%. As a group, sell-side analysts expect that Qiagen will post 2.15 EPS for the current year.

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.