Qiagen (NYSE:QGEN) Posts Earnings Results, Beats Estimates By $0.02 EPS

Qiagen (NYSE:QGEN) announced its quarterly earnings results on Monday. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02, RTT News reports. Qiagen had a return on equity of 12.99% and a net margin of 17.37%. The business had revenue of $459.00 million for the quarter, compared to the consensus estimate of $453.91 million. During the same period last year, the business posted $0.53 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. Qiagen updated its FY24 guidance to at least $2.10 EPS and its FY 2024 guidance to 2.100- EPS.

Qiagen Stock Performance

Shares of QGEN opened at $42.32 on Tuesday. The stock has a market cap of $9.66 billion, a P/E ratio of 27.97, a P/E/G ratio of 3.51 and a beta of 0.41. The stock has a 50-day moving average of $42.57 and a two-hundred day moving average of $42.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.62 and a current ratio of 1.99. Qiagen has a one year low of $34.74 and a one year high of $47.70.

Analyst Ratings Changes

A number of research analysts have recently issued reports on QGEN shares. JPMorgan Chase & Co. lifted their price target on Qiagen from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Citigroup lowered their price objective on Qiagen from $61.86 to $60.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, Morgan Stanley raised Qiagen from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $49.48 to $51.00 in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Qiagen presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.69.

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.