Qiagen (NYSE:QGEN) Updates FY24 Earnings Guidance

Qiagen (NYSE:QGEN) issued an update on its FY24 earnings guidance on Monday. The company provided earnings per share guidance of at least $2.10 for the period, compared to the consensus earnings per share estimate of $2.10. The company issued revenue guidance of at least $2.0 billion, compared to the consensus revenue estimate of $2.01 billion. Qiagen also updated its FY 2024 guidance to 2.100- EPS.

Wall Street Analyst Weigh In

QGEN has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Qiagen from $50.00 to $52.00 and gave the company an overweight rating in a report on Thursday, February 8th. Citigroup reduced their price objective on shares of Qiagen from $61.86 to $60.00 and set a buy rating on the stock in a research note on Thursday, February 8th. Stifel Nicolaus lowered their target price on shares of Qiagen from $55.00 to $45.00 and set a hold rating for the company in a research note on Wednesday. Finally, Morgan Stanley upgraded Qiagen from an equal weight rating to an overweight rating and boosted their price target for the company from $49.48 to $51.00 in a report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $50.95.

Qiagen Trading Up 1.1 %

QGEN opened at $42.81 on Thursday. Qiagen has a 52-week low of $34.74 and a 52-week high of $47.70. 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 firm has a market capitalization of $9.77 billion, a P/E ratio of 28.71, a P/E/G ratio of 3.58 and a beta of 0.42. The firm’s 50 day moving average is $42.56 and its 200-day moving average is $42.71.

Qiagen (NYSE:QGEN) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Qiagen had a return on equity of 12.50% and a net margin of 17.38%. The firm had revenue of $459.00 million during the quarter, compared to the consensus estimate of $453.91 million. During the same quarter in the prior year, the business posted $0.53 earnings per share. Qiagen’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts expect that Qiagen will post 2.09 EPS for the current fiscal 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.