Edgestream Partners L.P. Trims Stock Position in Qiagen (NYSE:QGEN)

Edgestream Partners L.P. lowered its holdings in shares of Qiagen (NYSE:QGEN) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,331 shares of the company’s stock after selling 1,373 shares during the quarter. Edgestream Partners L.P.’s holdings in Qiagen were worth $1,370,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in QGEN. Nuance Investments LLC increased its position in shares of Qiagen by 311.0% during the 1st quarter. Nuance Investments LLC now owns 4,493,489 shares of the company’s stock valued at $193,175,000 after purchasing an additional 3,400,255 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Qiagen by 104,759.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,583,380 shares of the company’s stock valued at $65,061,000 after acquiring an additional 1,581,870 shares during the period. Earnest Partners LLC grew its stake in shares of Qiagen by 85.1% during the 1st quarter. Earnest Partners LLC now owns 3,427,605 shares of the company’s stock valued at $147,353,000 after acquiring an additional 1,576,259 shares during the period. Wellington Management Group LLP grew its stake in shares of Qiagen by 20.1% during the 4th quarter. Wellington Management Group LLP now owns 7,271,828 shares of the company’s stock valued at $316,463,000 after acquiring an additional 1,217,712 shares during the period. Finally, FIL Ltd grew its stake in shares of Qiagen by 8.5% during the 4th quarter. FIL Ltd now owns 5,099,140 shares of the company’s stock valued at $221,784,000 after acquiring an additional 399,965 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Qiagen Trading Down 1.5 %

QGEN stock opened at $44.90 on Friday. Qiagen has a 1-year low of $34.74 and a 1-year high of $47.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.77 and a quick ratio of 1.46. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 3.32 and a beta of 0.39. The business has a 50 day simple moving average of $44.93 and a two-hundred day simple moving average of $43.48.

Qiagen (NYSE:QGEN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.55 earnings per share 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 period in the prior year, the company posted $0.53 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Research analysts anticipate that Qiagen will post 2.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on QGEN shares. JPMorgan Chase & Co. boosted their price objective on Qiagen from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. 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 note on Thursday, June 27th. Finally, Robert W. Baird boosted their price objective on Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Qiagen has a consensus rating of “Moderate Buy” and an average price target of $51.10.

Qiagen 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.