JPMorgan Chase & Co. Raises Stock Position in Qiagen (NYSE:QGEN)

JPMorgan Chase & Co. raised its stake in shares of Qiagen (NYSE:QGEN - Free Report) by 36.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,604,034 shares of the company's stock after buying an additional 424,937 shares during the quarter. JPMorgan Chase & Co. owned about 0.70% of Qiagen worth $73,096,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. TD Asset Management Inc purchased a new position in Qiagen during the second quarter valued at approximately $2,103,000. Victory Capital Management Inc. increased its holdings in shares of Qiagen by 104,759.6% in the second quarter. Victory Capital Management Inc. now owns 1,583,380 shares of the company's stock worth $65,061,000 after purchasing an additional 1,581,870 shares during the period. Acadian Asset Management LLC raised its position in shares of Qiagen by 6.1% in the second quarter. Acadian Asset Management LLC now owns 48,267 shares of the company's stock worth $1,992,000 after buying an additional 2,796 shares in the last quarter. Oak Thistle LLC boosted its stake in Qiagen by 47.9% during the second quarter. Oak Thistle LLC now owns 20,663 shares of the company's stock valued at $849,000 after buying an additional 6,695 shares during the period. Finally, Headlands Technologies LLC grew its position in Qiagen by 396.6% during the second quarter. Headlands Technologies LLC now owns 2,741 shares of the company's stock worth $113,000 after buying an additional 2,189 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QGEN has been the subject of a number of research analyst reports. HSBC downgraded 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. Hsbc Global Res upgraded shares of Qiagen to a "hold" rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $54.00 price target (up previously from $42.00) on shares of Qiagen in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.88.

Qiagen Trading Up 1.0 %

NYSE:QGEN traded up $0.45 during trading hours on Friday, reaching $44.97. The company's stock had a trading volume of 491,745 shares, compared to its average volume of 569,223. The firm has a 50-day simple moving average of $43.75 and a 200-day simple moving average of $43.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.89 and a current ratio of 2.17. Qiagen has a 1 year low of $39.03 and a 1 year high of $47.44. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 115.31, a PEG ratio of 3.52 and a beta of 0.35.

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.