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 earnings per share (EPS) guidance of 2.100- for the period, compared to the consensus 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 Price Performance

NYSE QGEN traded up $0.67 on Monday, reaching $42.32. 2,566,569 shares of the company’s stock traded hands, compared to its average volume of 1,200,973. The stock has a 50-day simple moving average of $42.58 and a 200 day simple moving average of $42.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.99 and a quick ratio of 1.62. Qiagen has a 12 month low of $34.74 and a 12 month high of $47.70. The stock has a market cap of $9.66 billion, a PE ratio of 27.96, a P/E/G ratio of 3.51 and a beta of 0.41.

Qiagen (NYSE:QGEN) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Qiagen had a net margin of 17.37% and a return on equity of 12.99%. The company had revenue of $509.00 million during the quarter, compared to the consensus estimate of $500.77 million. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, research analysts predict that Qiagen will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

QGEN has been the subject of a number of 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 cut their price target on Qiagen from $61.86 to $60.00 and set a buy rating for the company in a report on Thursday, February 8th. Finally, Morgan Stanley raised Qiagen from an equal weight rating to an overweight rating and raised their price objective for the stock from $49.48 to $51.00 in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus 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.