BidaskClub downgraded shares of Qiagen (NASDAQ:QGEN) from a buy rating to a hold rating in a research report released on Tuesday.
A number of other research firms also recently issued reports on QGEN. Goldman Sachs Group assumed coverage on shares of Qiagen in a report on Monday, January 29th. They issued a buy rating and a $39.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Qiagen from $38.00 to $39.00 and gave the stock an overweight rating in a report on Friday, February 2nd. Commerzbank reissued a buy rating on shares of Qiagen in a report on Thursday, February 1st. Deutsche Bank reissued a buy rating on shares of Qiagen in a report on Monday, January 22nd. Finally, DZ Bank reissued a neutral rating on shares of Qiagen in a report on Tuesday, December 19th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $35.33.
Qiagen (QGEN) opened at $34.59 on Tuesday. The company has a quick ratio of 4.59, a current ratio of 5.07 and a debt-to-equity ratio of 0.69. The stock has a market cap of $7,980.00, a P/E ratio of -345.90, a P/E/G ratio of 1.93 and a beta of 0.98. Qiagen has a 1-year low of $27.74 and a 1-year high of $36.34.
Qiagen announced that its board has approved a share repurchase program on Wednesday, January 31st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. bought a new stake in Qiagen during the 4th quarter worth approximately $154,000. Lourd Capital LLC bought a new stake in Qiagen during the 4th quarter worth approximately $223,000. Hartford Investment Management Co. bought a new stake in Qiagen during the 3rd quarter worth approximately $231,000. Trexquant Investment LP bought a new stake in Qiagen during the 3rd quarter worth approximately $234,000. Finally, Barings LLC bought a new stake in Qiagen during the 3rd quarter worth approximately $255,000. Institutional investors own 62.23% of the company’s stock.
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Qiagen Company Profile
QIAGEN N.V. (QIAGEN) is a holding company. The Company is engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Its Sample to Insight solutions integrate sample and assay technologies, bioinformatics and automation systems. Its sample technologies are used for isolating and preparing deoxyribonucleic acid (DNA), ribonucleic acid (RNA) and proteins from blood or other liquids, tissue, plants or other materials.
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