Allspring Global Investments Holdings LLC Increases Stock Holdings in Qiagen (NYSE:QGEN)

Allspring Global Investments Holdings LLC increased its holdings in shares of Qiagen (NYSE:QGEN) by 16.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,320,088 shares of the company’s stock after buying an additional 324,417 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Qiagen were worth $105,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QGEN. Vanguard Group Inc. grew its stake in Qiagen by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 8,815,467 shares of the company’s stock valued at $382,856,000 after purchasing an additional 83,371 shares during the last quarter. Nuance Investments LLC grew its stake in Qiagen by 17.3% during the 2nd quarter. Nuance Investments LLC now owns 5,271,494 shares of the company’s stock valued at $216,606,000 after purchasing an additional 778,005 shares during the last quarter. Earnest Partners LLC grew its stake in Qiagen by 11.1% during the 2nd quarter. Earnest Partners LLC now owns 3,807,284 shares of the company’s stock valued at $156,441,000 after purchasing an additional 379,679 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Qiagen by 12.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,248,354 shares of the company’s stock valued at $133,292,000 after purchasing an additional 353,280 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Qiagen by 14.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,756,271 shares of the company’s stock valued at $75,502,000 after purchasing an additional 222,248 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wolfe Research raised Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Thursday, June 27th. Robert W. Baird boosted their price objective on Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. HSBC cut Qiagen from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a report on Thursday. Finally, Hsbc Global Res raised Qiagen to a “hold” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.12.

Qiagen Stock Performance

NYSE QGEN opened at $43.00 on Monday. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 143.09, a PEG ratio of 3.36 and a beta of 0.39. Qiagen has a twelve month low of $34.74 and a twelve month high of $47.44. The company has a current ratio of 1.77, a quick ratio of 1.46 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $45.10 and a 200 day moving average of $43.54.

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