Qiagen (NYSE:QGEN) Hits New 52-Week Low – Here’s Why

Qiagen (NYSE:QGEN) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $39.08 and last traded at $39.12, with a volume of 84973 shares changing hands. The stock had previously closed at $40.01.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QGEN. Morgan Stanley reiterated an “equal weight” rating and issued a $46.67 price target (down previously from $48.61) on shares of Qiagen in a research report on Monday, January 6th. Jefferies Financial Group reissued a “buy” rating and set a $52.50 target price (up previously from $40.83) on shares of Qiagen in a research report on Tuesday, December 10th. UBS Group lowered their price target on Qiagen from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Robert W. Baird cut shares of Qiagen from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $42.00 in a research report on Wednesday. Finally, Baird R W lowered shares of Qiagen from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Qiagen presently has an average rating of “Hold” and a consensus target price of $47.71.

Qiagen Stock Up 2.5 %

The company’s 50 day moving average is $43.15 and its 200 day moving average is $43.07. The company has a market cap of $8.77 billion, a PE ratio of 110.03, a P/E/G ratio of 2.43 and a beta of 0.36. The company has a current ratio of 3.61, a quick ratio of 3.09 and a debt-to-equity ratio of 0.38.

Qiagen (NYSE:QGEN) last issued its earnings results on Wednesday, February 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Qiagen had a net margin of 4.23% and a return on equity of 13.92%. As a group, analysts predict that Qiagen will post 2.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. purchased a new stake in shares of Qiagen in the 4th quarter worth approximately $37,000. Geneos Wealth Management Inc. lifted its holdings in Qiagen by 41.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 856 shares of the company’s stock worth $38,000 after buying an additional 251 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Qiagen by 152.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $39,000 after buying an additional 526 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Qiagen during the 3rd quarter valued at $53,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Qiagen by 148.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,399 shares of the company’s stock valued at $63,000 after acquiring an additional 835 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Qiagen Company Profile

QIAGEN NV is a holding company, which engages in the provision of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. The company sample technologies isolate and process DNA, RNA, and proteins from blood, tissue, and other materials.