Qiagen (NASDAQ:QGEN)‘s stock had its “buy” rating reaffirmed by stock analysts at Commerzbank in a report released on Wednesday.
A number of other equities research analysts have also recently issued reports on the stock. TheStreet cut shares of Qiagen from a “b-” rating to a “c+” rating in a report on Thursday, February 8th. Morgan Stanley boosted their target price on shares of Qiagen from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Goldman Sachs initiated coverage on shares of Qiagen in a report on Monday, January 29th. They set a “buy” rating and a $39.00 target price on the stock. BidaskClub cut shares of Qiagen from a “buy” rating to a “hold” rating in a report on Thursday, March 15th. Finally, Zacks Investment Research raised shares of Qiagen from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.55.
Qiagen stock opened at $34.71 on Wednesday. Qiagen has a 12 month low of $30.20 and a 12 month high of $36.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.59 and a current ratio of 5.07.
Qiagen declared that its board has authorized a stock repurchase program on Wednesday, January 31st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
Several institutional investors have recently added to or reduced their stakes in the company. Sivik Global Healthcare LLC bought a new position in shares of Qiagen in the first quarter worth $2,423,000. Neuberger Berman Group LLC increased its holdings in shares of Qiagen by 13.5% in the first quarter. Neuberger Berman Group LLC now owns 1,512,152 shares of the company’s stock worth $48,857,000 after purchasing an additional 179,581 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Qiagen by 28.2% in the first quarter. First Mercantile Trust Co. now owns 15,200 shares of the company’s stock worth $491,000 after purchasing an additional 3,348 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Qiagen by 3.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 214,861 shares of the company’s stock worth $6,943,000 after purchasing an additional 6,868 shares during the period. Finally, Great Lakes Advisors LLC increased its holdings in shares of Qiagen by 37.3% in the first quarter. Great Lakes Advisors LLC now owns 212,745 shares of the company’s stock worth $6,874,000 after purchasing an additional 57,782 shares during the period. 62.23% of the stock is currently owned by hedge funds and other institutional investors.
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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