Qiagen (NYSE:QGEN) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Qiagen (NYSE:QGEN) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 351,372 shares of the company’s stock after acquiring an additional 11,392 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of Qiagen worth $14,452,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. CWM LLC raised its holdings in shares of Qiagen by 12.0% in the second quarter. CWM LLC now owns 2,505 shares of the company’s stock worth $103,000 after acquiring an additional 269 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Qiagen by 2.2% in the fourth quarter. Eagle Asset Management Inc. now owns 20,338 shares of the company’s stock worth $883,000 after acquiring an additional 430 shares during the last quarter. TD Asset Management Inc grew its position in shares of Qiagen by 1.0% in the fourth quarter. TD Asset Management Inc now owns 53,531 shares of the company’s stock valued at $2,330,000 after purchasing an additional 554 shares during the period. Riverview Trust Co purchased a new stake in shares of Qiagen in the first quarter valued at $28,000. Finally, Park Place Capital Corp purchased a new stake in shares of Qiagen in the first quarter valued at $36,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Qiagen Price Performance

QGEN stock opened at $44.86 on Wednesday. The stock has a 50-day moving average price of $45.03 and a two-hundred day moving average price of $43.47. 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 company has a market cap of $10.24 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 3.32 and a beta of 0.39.

Qiagen (NYSE:QGEN) last posted 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 return on equity of 12.92% and a net margin of 3.75%. The firm had revenue of $496.00 million during the quarter, compared to the consensus estimate of $495.45 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts predict that Qiagen will post 2.15 EPS for the current year.

Wall Street Analyst Weigh In

QGEN has been the subject of a number of recent analyst reports. 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 research report on Thursday, June 27th. Robert W. Baird lifted their price objective on Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Qiagen from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.10.

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.