Raymond James & Associates Trims Position in Qiagen (NYSE:QGEN)

Raymond James & Associates lowered its position in shares of Qiagen (NYSE:QGEN - Free Report) by 63.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 198,739 shares of the company's stock after selling 343,714 shares during the period. Raymond James & Associates owned about 0.09% of Qiagen worth $9,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Place Capital Corp purchased a new position in shares of Qiagen during the first quarter worth about $36,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Qiagen by 25.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,689,763 shares of the company's stock worth $72,643,000 after buying an additional 344,275 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Qiagen by 28.6% during the first quarter. Principal Financial Group Inc. now owns 18,693 shares of the company's stock worth $804,000 after buying an additional 4,158 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in shares of Qiagen during the first quarter worth about $596,000. Finally, Van ECK Associates Corp grew its holdings in shares of Qiagen by 3.1% during the first quarter. Van ECK Associates Corp now owns 208,587 shares of the company's stock worth $8,967,000 after buying an additional 6,361 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Qiagen Price Performance

Shares of QGEN traded up $0.41 on Wednesday, reaching $42.24. The stock had a trading volume of 928,685 shares, compared to its average volume of 1,172,055. The firm has a market capitalization of $9.64 billion, a PE ratio of 28.40, a PEG ratio of 3.17 and a beta of 0.39. The company has a quick ratio of 1.46, a current ratio of 1.77 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $44.48 and a 200 day moving average of $43.57. Qiagen has a twelve month low of $36.10 and a twelve month high of $47.44.

Qiagen (NYSE:QGEN - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. The business had revenue of $496.00 million for the quarter, compared to analysts' expectations of $495.45 million. Qiagen had a return on equity of 12.92% and a net margin of 3.75%. The company's revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. Sell-side analysts expect that Qiagen will post 2.15 EPS for the current year.

Wall Street Analysts Forecast Growth

QGEN has been the topic of a number of research reports. Hsbc Global Res raised Qiagen to a "hold" rating in a report on Thursday, October 17th. Robert W. Baird boosted their target price on Qiagen from $49.00 to $52.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Finally, HSBC downgraded Qiagen from a "buy" rating to a "hold" rating and set a $49.00 target price for the company. in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Qiagen has a consensus rating of "Moderate Buy" and a consensus target price of $50.12.

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.