Edgestream Partners L.P. Cuts Stock Position in Qiagen (NYSE:QGEN)

Edgestream Partners L.P. cut its holdings in Qiagen (NYSE:QGEN) by 4.0% in the second quarter, HoldingsChannel reports. The firm owned 33,331 shares of the company’s stock after selling 1,373 shares during the quarter. Edgestream Partners L.P.’s holdings in Qiagen were worth $1,370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co purchased a new position in shares of Qiagen in the first quarter valued at $28,000. Park Place Capital Corp purchased a new position in Qiagen during the first quarter worth $36,000. Quarry LP purchased a new position in Qiagen during the fourth quarter worth $38,000. CWM LLC boosted its stake in Qiagen by 19.1% during the first quarter. CWM LLC now owns 2,236 shares of the company’s stock worth $96,000 after buying an additional 358 shares during the period. Finally, Headlands Technologies LLC boosted its stake in Qiagen by 396.6% during the second quarter. Headlands Technologies LLC now owns 2,741 shares of the company’s stock worth $113,000 after buying an additional 2,189 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QGEN has been the subject of several recent analyst reports. Robert W. Baird lifted their price objective on shares of Qiagen from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Wolfe Research raised shares of Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Qiagen from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.10.

Qiagen Price Performance

Shares of NYSE QGEN opened at $44.90 on Friday. Qiagen has a 52 week low of $34.74 and a 52 week high of $47.44. The firm has a market cap of $10.25 billion, a P/E ratio of 30.11, a P/E/G ratio of 3.32 and a beta of 0.39. The business’s 50 day moving average price is $44.93 and its 200 day moving average price is $43.48. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.27.

Qiagen (NYSE:QGEN) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Qiagen had a return on equity of 12.92% and a net margin of 3.75%. The company had revenue of $496.00 million during the quarter, compared to the consensus estimate of $495.45 million. During the same period in the previous year, the company posted $0.53 earnings per share. Qiagen’s revenue for the quarter was down .2% on a year-over-year basis. On average, sell-side analysts expect that Qiagen will post 2.15 earnings per share for the current year.

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.