Qiagen (QGEN) Stock Rating Upgraded by Zacks Investment Research
Qiagen (NASDAQ:QGEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “QIAGEN ended the 2017 on a solid note with a better-than-expected fourth-quarter performance. We are, impressed with growth in all the business segments. On the profitability front, QIAGEN performed well in terms of operating margin. We are also upbeat about the agreement to buy STAT-Dx. We also look forward to the implementation of the recently-drawn strategies to boost top-line contributions from the NGS portfolio. Moreover, the company’s focus to drive growth through Sample-to-Insight offerings buoys optimism. Further, QIAsymphony placements exceeded the goal of 2,000 cumulative placements at the end of 2017. Over the last six months, QIAGEN has been outperforming the broader industry. However, declining HPV sales in the United States continue to be a drag. Also, competitive landscape and strong reliance on collaborations are other concerns.”
A number of other equities analysts have also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Qiagen from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Commerzbank reissued a “buy” rating on shares of Qiagen in a research report on Thursday, February 1st. Goldman Sachs Group assumed coverage on shares of Qiagen in a research report on Monday, January 29th. They set a “buy” rating and a $39.00 price target on the stock. Deutsche Bank reissued a “buy” rating on shares of Qiagen in a research report on Monday, January 22nd. Finally, BidaskClub raised shares of Qiagen from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Qiagen currently has an average rating of “Hold” and an average target price of $35.33.
Qiagen announced that its board has approved a stock repurchase plan on Wednesday, January 31st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Atlanta Capital Management Co. L L C lifted its position in Qiagen by 210.1% during the 3rd quarter. Atlanta Capital Management Co. L L C now owns 1,314,274 shares of the company’s stock worth $41,400,000 after buying an additional 890,454 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Qiagen during the 2nd quarter worth about $26,408,000. Assenagon Asset Management S.A. lifted its position in Qiagen by 163.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 844,529 shares of the company’s stock worth $26,326,000 after buying an additional 523,453 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Qiagen during the 2nd quarter worth about $15,088,000. Finally, Vanguard Group Inc. lifted its position in Qiagen by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 6,053,863 shares of the company’s stock worth $202,986,000 after buying an additional 394,201 shares in the last quarter. 62.49% of the stock is currently owned by institutional investors and hedge funds.
QIAGEN N.V. (QIAGEN) is a holding company. The Company is engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Its Sample to Insight solutions integrate sample and assay technologies, bioinformatics and automation systems. Its sample technologies are used for isolating and preparing deoxyribonucleic acid (DNA), ribonucleic acid (RNA) and proteins from blood or other liquids, tissue, plants or other materials.
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