Raymond James & Associates Cuts Stock Holdings in Qiagen (NYSE:QGEN)

Raymond James & Associates lowered its position in Qiagen (NYSE:QGEN) by 63.4% in the third quarter, HoldingsChannel reports. The fund owned 198,739 shares of the company’s stock after selling 343,714 shares during the quarter. Raymond James & Associates’ holdings in Qiagen were worth $9,057,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Qiagen by 806.5% during the third quarter. GAMMA Investing LLC now owns 562 shares of the company’s stock worth $26,000 after purchasing an additional 500 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of Qiagen during the second quarter worth $27,000. Park Place Capital Corp acquired a new stake in shares of Qiagen in the first quarter valued at about $36,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Qiagen by 39.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 853 shares of the company’s stock worth $39,000 after buying an additional 243 shares in the last quarter. Finally, CWM LLC boosted its position in Qiagen by 12.0% during the second quarter. CWM LLC now owns 2,505 shares of the company’s stock worth $103,000 after acquiring an additional 269 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QGEN has been the subject of several recent research reports. Robert W. Baird increased their price target on Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Hsbc Global Res raised Qiagen to a “hold” rating in a research note on Thursday, October 17th. Finally, HSBC cut shares of Qiagen from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.12.

Qiagen Trading Up 0.1 %

NYSE QGEN opened at $41.83 on Wednesday. Qiagen has a 12 month low of $34.74 and a 12 month high of $47.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.46. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.17 and a beta of 0.39. The firm’s fifty day moving average price is $44.58 and its 200 day moving average price is $43.56.

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

Qiagen Profile

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.