Qiagen (NYSE:QGEN) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in Qiagen (NYSE:QGEN) by 17.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,809 shares of the company’s stock after selling 2,241 shares during the quarter. Truist Financial Corp’s holdings in Qiagen were worth $444,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QGEN. Nuance Investments LLC lifted its position in Qiagen by 311.0% during the 1st quarter. Nuance Investments LLC now owns 4,493,489 shares of the company’s stock worth $193,175,000 after acquiring an additional 3,400,255 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Qiagen by 104,759.6% during the second quarter. Victory Capital Management Inc. now owns 1,583,380 shares of the company’s stock valued at $65,061,000 after buying an additional 1,581,870 shares in the last quarter. Earnest Partners LLC boosted its stake in Qiagen by 85.1% during the first quarter. Earnest Partners LLC now owns 3,427,605 shares of the company’s stock valued at $147,353,000 after buying an additional 1,576,259 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Qiagen by 148.8% during the second quarter. Point72 Asset Management L.P. now owns 1,184,806 shares of the company’s stock valued at $48,684,000 after purchasing an additional 708,533 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Qiagen by 12.2% during the second 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. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QGEN shares. Robert W. Baird increased their price objective on 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 Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.25.

Qiagen Price Performance

Shares of QGEN stock opened at $43.21 on Thursday. 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 company has a market capitalization of $9.86 billion, a P/E ratio of 29.00, a P/E/G ratio of 3.39 and a beta of 0.39. Qiagen has a 12 month low of $34.74 and a 12 month high of $47.44. The stock has a 50 day moving average of $45.23 and a two-hundred day moving average of $43.52.

Qiagen (NYSE:QGEN) last posted its earnings results on Wednesday, July 31st. The company reported $0.55 EPS for the quarter, topping 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 business had revenue of $496.00 million during the quarter, compared to the consensus estimate of $495.45 million. During the same quarter last year, the company earned $0.53 EPS. Qiagen’s revenue was down .2% on a year-over-year basis. As a group, equities analysts expect that Qiagen will post 2.15 EPS for the current year.

Qiagen Company 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.