Q2 2024 Earnings Forecast for Qiagen Issued By William Blair (NYSE:QGEN)

Qiagen (NYSE:QGEN) – William Blair reduced their Q2 2024 earnings per share (EPS) estimates for Qiagen in a note issued to investors on Wednesday, May 1st. William Blair analyst A. Brackmann now forecasts that the company will post earnings per share of $0.52 for the quarter, down from their prior forecast of $0.53. The consensus estimate for Qiagen’s current full-year earnings is $2.09 per share. William Blair also issued estimates for Qiagen’s Q3 2024 earnings at $0.52 EPS and Q4 2024 earnings at $0.61 EPS.

Qiagen (NYSE:QGEN) last issued its earnings results on Monday, April 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Qiagen had a return on equity of 12.59% and a net margin of 17.38%. The company had revenue of $459.00 million for the quarter, compared to the consensus estimate of $453.91 million. During the same quarter last year, the company earned $0.53 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis.

Several other brokerages have also recently commented on QGEN. Citigroup decreased their price target on shares of Qiagen from $61.86 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised 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. Stifel Nicolaus decreased their price objective on Qiagen from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Finally, Morgan Stanley raised shares of Qiagen from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $49.48 to $51.00 in a report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.95.

Qiagen Price Performance

Shares of NYSE:QGEN opened at $42.98 on Monday. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 3.64 and a beta of 0.42. The firm has a fifty day moving average price of $42.53 and a 200 day moving average price of $42.78. Qiagen has a fifty-two week low of $34.74 and a fifty-two week high of $47.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.62 and a current ratio of 1.84.

Hedge Funds Weigh In On Qiagen

A number of hedge funds have recently bought and sold shares of the company. Riverview Trust Co acquired a new position in Qiagen in the 1st quarter worth approximately $28,000. Tower Research Capital LLC TRC raised its position in Qiagen by 66.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 283 shares during the period. Briaud Financial Planning Inc purchased a new stake in Qiagen in the 3rd quarter worth about $31,000. Park Place Capital Corp acquired a new stake in Qiagen during the 1st quarter worth about $36,000. Finally, Quarry LP purchased a new position in Qiagen during the 4th quarter valued at about $38,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

About Qiagen

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.