Qiagen (NYSE:QGEN) Updates FY24 Earnings Guidance

Qiagen (NYSE:QGEN) issued an update on its FY24 earnings guidance on Monday morning. 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.

Qiagen Price Performance

QGEN stock traded up $0.67 during mid-day trading on Monday, hitting $42.32. The stock had a trading volume of 2,566,569 shares, compared to its average volume of 1,200,973. The company has a current ratio of 1.99, a quick ratio of 1.62 and a debt-to-equity ratio of 0.24. Qiagen has a 52 week low of $34.74 and a 52 week high of $47.70. The firm has a market capitalization of $9.66 billion, a P/E ratio of 27.97, a P/E/G ratio of 3.51 and a beta of 0.41. The firm has a fifty day simple moving average of $42.58 and a 200 day simple moving average of $42.68.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Qiagen from $50.00 to $52.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Morgan Stanley upgraded shares of Qiagen from an equal weight rating to an overweight rating and raised their price target for the company from $49.48 to $51.00 in a research note on Friday, February 16th. Finally, Citigroup reduced their price target 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Qiagen currently has an average rating of Moderate Buy and an average price target of $51.69.

About Qiagen

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.