Qiagen NV (QGEN) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Qiagen NV (NASDAQ:QGEN) from a sell rating to a hold rating in a research note published on Friday.

According to Zacks, “QIAGEN posted a dull fourth quarter of 2016 with earnings meeting the Zacks Consensus Estimate and revenues missing the same. Adverse foreign currency movement and declining HPV sales in the U.S. continue to be a drag on overall sales.Consequently, the company’s share price, which was above the Zacks categorized Medical – Biomedical and Genetics industry’s gain in the last three months, got disrupted. On the profitability front, QIAGEN delivered quite a sluggish performance owing to rising costs and operating expenses. Competitive landscape and strong reliance on collaborations also continue to be concerns. On the flip side, QIAGEN’s recent developments of product launch, acquisition of Omnisoft and its partnership with Singulex are quite encouraging. The company delivered balanced growth across all segments and international markets.”

Other equities research analysts have also issued research reports about the stock. Deutsche Bank AG reissued a buy rating on shares of Qiagen NV in a research report on Monday, January 30th. DZ Bank AG reissued a neutral rating on shares of Qiagen NV in a research report on Monday, February 6th. Commerzbank Ag restated a buy rating on shares of Qiagen NV in a research note on Friday, February 3rd. Jefferies Group LLC restated a hold rating on shares of Qiagen NV in a research note on Friday, February 3rd. Finally, Barclays PLC restated a buy rating on shares of Qiagen NV in a research note on Monday, January 9th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Qiagen NV has a consensus rating of Hold and an average price target of $27.00.

Analyst Recommendations for Qiagen NV (NASDAQ:QGEN)

Qiagen NV (NASDAQ:QGEN) traded down 0.48% on Friday, reaching $29.24. 222,110 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $29.10 and its 200 day moving average price is $28.41. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 82.83 and a beta of 1.05. Qiagen NV has a 1-year low of $20.71 and a 1-year high of $30.25.

Qiagen NV (NASDAQ:QGEN) last released its quarterly earnings data on Wednesday, February 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.05. Qiagen NV had a net margin of 5.85% and a return on equity of 10.01%. The company earned $366.50 million during the quarter, compared to analyst estimates of $372.70 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that Qiagen NV will post $1.25 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of Qiagen NV by 3.8% in the third quarter. BNP Paribas Arbitrage SA now owns 26,293 shares of the company’s stock valued at $721,000 after buying an additional 973 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Qiagen NV during the third quarter valued at $1,084,000. Parametrica Management Ltd purchased a new position in shares of Qiagen NV during the third quarter valued at $304,000. Bank of Montreal Can increased its position in shares of Qiagen NV by 10.6% in the third quarter. Bank of Montreal Can now owns 610,985 shares of the company’s stock valued at $16,766,000 after buying an additional 58,464 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Qiagen NV by 3.7% in the third quarter. Acadian Asset Management LLC now owns 369,402 shares of the company’s stock valued at $10,136,000 after buying an additional 13,105 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.

About Qiagen NV

QIAGEN N.V. (QIAGEN) is a holding company. The Company and its subsidiaries are engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Sample to Insight solutions are composed of sample and assay technologies, bioinformatics and automation systems.

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