Norges Bank bought a new position in shares of Qiagen N.V. (NYSE:QGEN – Free Report) during the 4th quarter, Holdings Channel.com reports. The firm bought 3,652,721 shares of the company’s stock, valued at approximately $166,500,000.
Other hedge funds have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. grew its position in shares of Qiagen by 0.4% in the third quarter. Johnson Investment Counsel Inc. now owns 57,359 shares of the company’s stock valued at $2,563,000 after purchasing an additional 240 shares during the last quarter. Allworth Financial LP grew its position in shares of Qiagen by 23.2% in the third quarter. Allworth Financial LP now owns 1,358 shares of the company’s stock valued at $61,000 after purchasing an additional 256 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Qiagen by 0.5% in the third quarter. Bessemer Group Inc. now owns 51,780 shares of the company’s stock valued at $2,288,000 after purchasing an additional 262 shares during the last quarter. Banque Cantonale Vaudoise grew its position in shares of Qiagen by 1.8% in the fourth quarter. Banque Cantonale Vaudoise now owns 16,363 shares of the company’s stock valued at $747,000 after purchasing an additional 290 shares during the last quarter. Finally, Truist Financial Corp grew its position in shares of Qiagen by 4.1% in the fourth quarter. Truist Financial Corp now owns 8,421 shares of the company’s stock valued at $379,000 after purchasing an additional 331 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. UBS Group set a $52.00 price target on Qiagen in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $43.00 price target on shares of Qiagen in a research report on Thursday, April 30th. JPMorgan Chase & Co. lowered their price target on Qiagen from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $59.00 price target on shares of Qiagen in a research report on Thursday, February 5th. Finally, Citigroup reaffirmed a “hold” rating on shares of Qiagen in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Qiagen presently has a consensus rating of “Hold” and an average target price of $44.98.
Qiagen Stock Up 2.1%
NYSE QGEN opened at $36.45 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.57 and a current ratio of 3.21. The firm has a 50-day simple moving average of $37.45 and a 200 day simple moving average of $44.51. Qiagen N.V. has a twelve month low of $32.53 and a twelve month high of $57.81. The stock has a market cap of $7.51 billion, a PE ratio of 19.03, a PEG ratio of 3.55 and a beta of 0.66.
Qiagen (NYSE:QGEN – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $492.32 million during the quarter, compared to analysts’ expectations of $496.15 million. Qiagen had a net margin of 19.16% and a return on equity of 14.40%. During the same quarter last year, the company earned $0.56 earnings per share. On average, research analysts forecast that Qiagen N.V. will post 2.43 EPS for the current year.
Qiagen Increases Dividend
The business also recently declared an annual dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, July 7th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a yield of 104.0%. This is a positive change from Qiagen’s previous annual dividend of $0.26. Qiagen’s payout ratio is presently 13.61%.
Qiagen Profile
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.
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