Pictet Asset Management Holding SA lowered its stake in shares of Qiagen N.V. (NYSE:QGEN – Free Report) by 14.2% in the first quarter, Holdings Channel reports. The firm owned 738,371 shares of the company’s stock after selling 122,433 shares during the period. Pictet Asset Management Holding SA’s holdings in Qiagen were worth $29,559,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Danske Bank A S acquired a new stake in Qiagen in the 3rd quarter worth about $36,000. Manchester Capital Management LLC acquired a new position in shares of Qiagen during the fourth quarter valued at approximately $42,000. Global Retirement Partners LLC lifted its position in shares of Qiagen by 279.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,155 shares of the company’s stock valued at $52,000 after acquiring an additional 851 shares in the last quarter. Allworth Financial LP lifted 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 acquiring an additional 256 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Qiagen in the third quarter worth approximately $64,000. Institutional investors and hedge funds own 70.00% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently commented on QGEN shares. Kepler Capital Markets set a $38.60 price target on Qiagen and gave the stock a “hold” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. decreased their price objective on Qiagen from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings cut shares of Qiagen from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Barclays set a $38.00 target price on shares of Qiagen and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Finally, Citigroup reissued a “hold” rating on shares of Qiagen in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.15.
Qiagen Price Performance
NYSE:QGEN opened at $39.15 on Wednesday. Qiagen N.V. has a one year low of $32.53 and a one year high of $57.81. The stock has a market cap of $8.07 billion, a PE ratio of 20.45, a P/E/G ratio of 3.97 and a beta of 0.66. 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 stock has a 50 day moving average price of $36.28 and a 200 day moving average price of $43.01.
Qiagen (NYSE:QGEN – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $492.32 million for the quarter, compared to analyst estimates of $496.15 million. Qiagen had a return on equity of 14.40% and a net margin of 19.16%.During the same quarter in the previous year, the company posted $0.56 earnings per share. Equities research analysts expect that Qiagen N.V. will post 2.43 EPS for the current fiscal year.
Qiagen Increases Dividend
The company also recently declared an annual dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.35 per share. This represents a dividend yield of 104.0%. The ex-dividend date of this dividend is Tuesday, July 7th. This is a positive change from Qiagen’s previous annual dividend of $0.26. Qiagen’s dividend 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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