Qiagen (NYSE:QGEN) Updates FY24 Earnings Guidance

Qiagen (NYSE:QGEN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of at least $2.19 for the period, compared to the consensus earnings per share estimate of $2.15. The company issued revenue guidance of at least $1.985 billion, compared to the consensus revenue estimate of $1.97 billion.

Qiagen Trading Down 0.2 %

Shares of NYSE:QGEN traded down $0.08 during midday trading on Wednesday, reaching $43.87. The company’s stock had a trading volume of 1,578,638 shares, compared to its average volume of 1,170,399. The firm has a 50 day moving average price of $44.15 and a two-hundred day moving average price of $43.70. Qiagen has a fifty-two week low of $37.51 and a fifty-two week high of $47.44. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 142.49, a PEG ratio of 3.33 and a beta of 0.41. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.46 and a current ratio of 1.77.

Analyst Ratings Changes

Several research firms recently issued reports on QGEN. HSBC downgraded shares of Qiagen from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research report on Thursday, October 17th. Robert W. Baird boosted their target price on shares of Qiagen from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Hsbc Global Res raised shares of Qiagen to a “hold” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Qiagen presently has a consensus rating of “Moderate Buy” and an average price target of $50.88.

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.