Qiagen N.V. (NYSE:QGEN) to Issue Annual Dividend of $0.35

Qiagen N.V. (NYSE:QGEN) announced an annual dividend on Tuesday, May 12th. Investors of record on Tuesday, July 7th will be given a dividend of 0.35 per share on Tuesday, July 14th. This represents a dividend yield of 104.0%. The ex-dividend date of this dividend is Tuesday, July 7th. This is a 33.0% increase from Qiagen’s previous annual dividend of $0.26.

Qiagen has a payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Qiagen to earn $2.69 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 9.7%.

Qiagen Stock Performance

NYSE:QGEN traded up $1.04 during midday trading on Tuesday, hitting $33.67. The company’s stock had a trading volume of 3,286,218 shares, compared to its average volume of 2,318,762. The firm has a market cap of $6.94 billion, a P/E ratio of 17.58, a P/E/G ratio of 3.29 and a beta of 0.64. Qiagen has a fifty-two week low of $32.60 and a fifty-two week high of $57.81. The firm’s 50 day moving average is $40.29 and its 200-day moving average is $46.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.90 and a quick ratio of 3.31.

Qiagen (NYSE:QGEN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $492.32 million during the quarter, compared to the consensus estimate of $496.15 million. Qiagen had a return on equity of 14.09% and a net margin of 19.16%.During the same period in the previous year, the company posted $0.56 earnings per share. Equities analysts anticipate that Qiagen will post 2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Qiagen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. United Services Automobile Association acquired a new stake in Qiagen during the first quarter worth approximately $239,000. Prudential Financial Inc. grew its position in shares of Qiagen by 74.9% in the 2nd quarter. Prudential Financial Inc. now owns 8,873 shares of the company’s stock valued at $426,000 after buying an additional 3,799 shares during the last quarter. Invesco Ltd. grew its position in shares of Qiagen by 123.7% in the 2nd quarter. Invesco Ltd. now owns 1,006,025 shares of the company’s stock valued at $48,350,000 after buying an additional 556,387 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Qiagen by 226.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,598 shares of the company’s stock worth $125,000 after acquiring an additional 1,802 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in Qiagen in the second quarter valued at $3,639,000. 70.00% of the stock is owned by institutional investors and hedge funds.

About Qiagen

Qiagen NV (NYSE: QGEN) is a global provider of sample and assay technologies designed to enable molecular testing in the fields of molecular diagnostics, applied testing, academic research and pharmaceutical development. The company’s solutions span the full workflow of nucleic acid and protein analysis, offering customers standardized kits, instruments and software tools that streamline the preparation, detection and quantification of DNA, RNA and proteins.

The company’s product portfolio includes nucleic acid extraction and purification systems, polymerase chain reaction (PCR) reagents and instrumentation, digital PCR platforms, next-generation sequencing (NGS) library‐preparation kits and proteomics solutions.