Bank of America Trims Qiagen (NYSE:QGEN) Target Price to $33.00

Qiagen (NYSE:QGEN) had its price target lowered by Bank of America from $40.00 to $33.00 in a report issued on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on QGEN. Deutsche Bank reaffirmed a buy rating on shares of Qiagen in a research note on Friday, July 26th. JPMorgan Chase & Co. reaffirmed an underweight rating and set a target price (down previously from ) on shares of Qiagen in a research note on Tuesday. Exane BNP Paribas raised Qiagen from a neutral rating to an outperform rating in a research note on Friday, July 12th. DZ Bank reaffirmed a neutral rating on shares of Qiagen in a research note on Wednesday, July 24th. Finally, Zacks Investment Research cut Qiagen from a hold rating to a sell rating and set a $38.00 target price for the company. in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $35.25.

Shares of QGEN stock opened at $27.08 on Tuesday. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.88 and a beta of 0.85. The stock has a 50-day moving average of $33.11 and a 200-day moving average of $37.36. The company has a current ratio of 1.77, a quick ratio of 1.59 and a debt-to-equity ratio of 0.54. Qiagen has a 1-year low of $25.04 and a 1-year high of $41.55.

Qiagen (NYSE:QGEN) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). Qiagen had a net margin of 12.94% and a return on equity of 12.10%. The company had revenue of $381.60 million during the quarter, compared to analyst estimates of $386.37 million. During the same period in the previous year, the company posted $0.33 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Qiagen will post 1.39 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. BB&T Securities LLC grew its stake in Qiagen by 5.0% in the second quarter. BB&T Securities LLC now owns 10,591 shares of the company’s stock valued at $429,000 after acquiring an additional 503 shares during the period. Private Capital Group LLC grew its stake in Qiagen by 354.0% in the second quarter. Private Capital Group LLC now owns 681 shares of the company’s stock valued at $25,000 after acquiring an additional 531 shares during the period. Riverhead Capital Management LLC grew its stake in Qiagen by 17.2% in the second quarter. Riverhead Capital Management LLC now owns 3,750 shares of the company’s stock valued at $152,000 after acquiring an additional 550 shares during the period. Phocas Financial Corp. acquired a new stake in Qiagen in the second quarter valued at approximately $2,259,000. Finally, Ossiam grew its stake in Qiagen by 1.5% in the second quarter. Ossiam now owns 40,695 shares of the company’s stock valued at $1,654,000 after acquiring an additional 609 shares during the period. 62.10% of the stock is owned by hedge funds and other institutional investors.

About Qiagen

QIAGEN N.V. provides sample to insight solutions that transform biological materials into molecular insights worldwide. The company offers sample technologies for plasmid deoxyribonucleic acid (DNA) purification, ribonucleic acid purification and stabilization, genomic and viral nucleic acid purification, DNA cleanup after polymerase chain reaction (PCR) and sequencing, target enrichment, and library preparation for sequencing applications; and assay technology solutions.

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Analyst Recommendations for Qiagen (NYSE:QGEN)

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