Qiagen (NYSE:QGEN) Sets New 52-Week Low on Analyst Downgrade

Qiagen (NYSE:QGEN) shares hit a new 52-week low on Monday after UBS Group lowered their price target on the stock from $50.00 to $48.00. UBS Group currently has a neutral rating on the stock. Qiagen traded as low as $39.63 and last traded at $39.97, with a volume of 363374 shares trading hands. The stock had previously closed at $41.34.

Other equities analysts have also issued reports about the stock. Morgan Stanley reissued an “equal weight” rating and issued a $46.67 price objective (down from $48.61) on shares of Qiagen in a research report on Monday, January 6th. HSBC downgraded shares of Qiagen from a “buy” rating to a “hold” rating and set a $47.64 price target on the stock. in a research note on Thursday, October 17th. Hsbc Global Res upgraded shares of Qiagen to a “hold” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $52.50 price target (up from $40.83) on shares of Qiagen in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Qiagen currently has an average rating of “Hold” and a consensus target price of $48.78.

Institutional Investors Weigh In On Qiagen

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of Qiagen by 77.7% in the third quarter. Wellington Management Group LLP now owns 21,250,943 shares of the company’s stock worth $963,386,000 after acquiring an additional 9,293,040 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Qiagen by 62.6% in the third quarter. Victory Capital Management Inc. now owns 2,574,705 shares of the company’s stock worth $117,329,000 after acquiring an additional 991,325 shares during the last quarter. State Street Corp lifted its holdings in shares of Qiagen by 3.9% in the third quarter. State Street Corp now owns 2,380,008 shares of the company’s stock worth $108,457,000 after acquiring an additional 90,181 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Qiagen by 0.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,336,160 shares of the company’s stock worth $104,006,000 after acquiring an additional 16,072 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Qiagen by 170.6% in the third quarter. Barclays PLC now owns 1,849,004 shares of the company’s stock worth $84,259,000 after acquiring an additional 1,165,594 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Qiagen Price Performance

The stock has a market cap of $8.91 billion, a P/E ratio of 111.91, a PEG ratio of 3.29 and a beta of 0.36. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.89. The business’s fifty day moving average price is $43.78 and its 200 day moving average price is $43.29.

Qiagen (NYSE:QGEN) last posted its earnings results on Wednesday, February 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Qiagen had a net margin of 4.23% and a return on equity of 13.97%. Sell-side analysts forecast that Qiagen will post 2.28 EPS for the current fiscal year.

Qiagen Company Profile

QIAGEN NV is a holding company, which engages in the provision of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. The company sample technologies isolate and process DNA, RNA, and proteins from blood, tissue, and other materials.