Qiagen (NYSE:QGEN) Downgraded by HSBC

HSBC cut shares of Qiagen (NYSE:QGEN) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Marketbeat.com reports. HSBC currently has $49.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. Robert W. Baird lifted their price target on shares of Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wolfe Research raised shares of Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Thursday, June 27th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.12.

Qiagen Trading Up 0.7 %

NYSE:QGEN opened at $43.00 on Thursday. The company has a 50-day moving average price of $45.10 and a 200-day moving average price of $43.54. Qiagen has a 12 month low of $34.74 and a 12 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 market cap of $9.81 billion, a price-to-earnings ratio of 143.09, a P/E/G ratio of 3.36 and a beta of 0.39.

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

Institutional Trading of Qiagen

A number of large investors have recently made changes to their positions in QGEN. GAMMA Investing LLC grew its stake in shares of Qiagen by 806.5% in the third quarter. GAMMA Investing LLC now owns 562 shares of the company’s stock worth $26,000 after acquiring an additional 500 shares during the period. Toronto Dominion Bank purchased a new position in shares of Qiagen in the second quarter worth approximately $27,000. Riverview Trust Co purchased a new position in shares of Qiagen in the first quarter worth approximately $28,000. Park Place Capital Corp purchased a new position in shares of Qiagen in the first quarter worth approximately $36,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings 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 during the last quarter. 70.00% of the stock is currently owned by institutional investors.

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.