State of Alaska Department of Revenue Sells 4,524 Shares of Qiagen (NYSE:QGEN)

State of Alaska Department of Revenue lowered its stake in shares of Qiagen (NYSE:QGEN) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,249 shares of the company’s stock after selling 4,524 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Qiagen worth $6,287,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in QGEN. Riverview Trust Co acquired a new stake in shares of Qiagen during the 1st quarter worth $28,000. Tower Research Capital LLC TRC grew its stake in Qiagen by 66.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 710 shares of the company’s stock worth $31,000 after buying an additional 283 shares in the last quarter. Park Place Capital Corp bought a new position in Qiagen in the 1st quarter valued at about $36,000. Quarry LP acquired a new position in shares of Qiagen in the 4th quarter valued at approximately $38,000. Finally, Toronto Dominion Bank bought a new stake in shares of Qiagen during the 3rd quarter worth approximately $41,000. Institutional investors own 70.00% of the company’s stock.

Qiagen Price Performance

Shares of QGEN opened at $40.58 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.84 and a debt-to-equity ratio of 0.25. The stock has a market cap of $9.26 billion, a PE ratio of 27.21, a PEG ratio of 3.15 and a beta of 0.40. Qiagen has a 12-month low of $34.74 and a 12-month high of $47.70. The business has a 50-day simple moving average of $43.16 and a two-hundred day simple moving average of $43.49.

Qiagen (NYSE:QGEN) last released its quarterly earnings data on Monday, April 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Qiagen had a return on equity of 12.59% and a net margin of 17.38%. The company had revenue of $459.00 million during the quarter, compared to the consensus estimate of $453.91 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. Analysts anticipate that Qiagen will post 2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Qiagen from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on Qiagen from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Finally, Wolfe Research upgraded Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.05.

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.