Exchange Traded Concepts LLC Lowers Stake in Qiagen (NYSE:QGEN)

Exchange Traded Concepts LLC lessened its position in Qiagen (NYSE:QGEN) by 18.5% during the third quarter, Holdings Channel reports. The fund owned 275,765 shares of the company’s stock after selling 62,505 shares during the period. Exchange Traded Concepts LLC’s holdings in Qiagen were worth $12,567,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Qiagen by 39.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 853 shares of the company’s stock worth $39,000 after purchasing an additional 243 shares in the last quarter. CWM LLC boosted its stake in Qiagen by 12.0% in the second quarter. CWM LLC now owns 2,505 shares of the company’s stock worth $103,000 after buying an additional 269 shares in the last quarter. GAMMA Investing LLC grew its position in Qiagen by 806.5% during the third quarter. GAMMA Investing LLC now owns 562 shares of the company’s stock valued at $26,000 after acquiring an additional 500 shares during the last quarter. Riverview Trust Co bought a new position in shares of Qiagen during the 1st quarter valued at $28,000. Finally, Toronto Dominion Bank purchased a new position in shares of Qiagen in the second quarter worth about $27,000. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

QGEN has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Qiagen from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Wolfe Research raised shares of Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Thursday, June 27th. Finally, Robert W. Baird boosted their price objective on shares of Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.25.

Qiagen Stock Performance

NYSE:QGEN opened at $43.92 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.27. Qiagen has a twelve month low of $34.74 and a twelve month high of $47.44. The stock has a market cap of $10.02 billion, a P/E ratio of 146.15, a price-to-earnings-growth ratio of 3.39 and a beta of 0.39. The firm’s fifty day simple moving average is $45.26 and its 200 day simple moving average is $43.50.

Qiagen (NYSE:QGEN) last announced its earnings results on Wednesday, July 31st. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Qiagen had a net margin of 3.75% and a return on equity of 12.92%. The firm had revenue of $496.00 million for the quarter, compared to analyst estimates of $495.45 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, research analysts predict that Qiagen will post 2.15 EPS for the current 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.