Qiagen (NYSE:QGEN) Releases FY 2024 Earnings Guidance

Qiagen (NYSE:QGEN) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.100- for the period, compared to the consensus EPS estimate of 2.110. The company issued revenue guidance of $2.0 billion-, compared to the consensus revenue estimate of $2.0 billion. Qiagen also updated its FY24 guidance to at least $2.10 EPS.

Qiagen Trading Down 0.6 %

NYSE:QGEN traded down $0.27 on Tuesday, hitting $42.03. The stock had a trading volume of 1,061,027 shares, compared to its average volume of 1,205,260. The company has a quick ratio of 1.62, a current ratio of 1.99 and a debt-to-equity ratio of 0.24. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.51 and a beta of 0.41. The company has a fifty day moving average price of $42.57 and a two-hundred day moving average price of $42.69. Qiagen has a 1-year low of $34.74 and a 1-year high of $47.70.

Qiagen (NYSE:QGEN) last posted its earnings results on Monday, April 29th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. Qiagen had a net margin of 17.37% and a return on equity of 12.99%. The company had revenue of $459.00 million for the quarter, compared to analyst estimates of $453.91 million. During the same period in the previous year, the business posted $0.53 EPS. Qiagen’s revenue was down 5.4% on a year-over-year basis. Equities research analysts expect that Qiagen will post 2.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on QGEN. JPMorgan Chase & Co. upped their price objective on shares of Qiagen from $50.00 to $52.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Morgan Stanley upgraded shares of Qiagen from an equal weight rating to an overweight rating and upped their price objective for the stock from $49.48 to $51.00 in a report on Friday, February 16th. Finally, Citigroup decreased their price objective on shares of Qiagen from $61.86 to $60.00 and set a buy rating on the stock in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Qiagen presently has a consensus rating of Moderate Buy and an average price target of $51.69.

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.