Prentiss Smith & Co. Inc. Buys Shares of 85,986 Qiagen (NYSE:QGEN)

Prentiss Smith & Co. Inc. bought a new stake in Qiagen (NYSE:QGEN) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 85,986 shares of the company’s stock, valued at approximately $3,918,000. Qiagen accounts for about 2.5% of Prentiss Smith & Co. Inc.’s holdings, making the stock its 16th largest holding.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Qiagen by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 8,815,467 shares of the company’s stock valued at $382,856,000 after buying an additional 83,371 shares during the period. US Bancorp DE grew its stake in Qiagen by 124.4% during the first quarter. US Bancorp DE now owns 75,529 shares of the company’s stock worth $3,247,000 after purchasing an additional 41,868 shares during the period. Allspring Global Investments Holdings LLC grew its stake in 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 purchasing an additional 344,275 shares during the period. TD Asset Management Inc bought a new position in Qiagen in the second quarter worth approximately $2,103,000. Finally, Edgestream Partners L.P. bought a new position in shares of Qiagen in the first quarter valued at approximately $1,492,000. 70.00% of the stock is currently owned by institutional investors.

Qiagen Stock Performance

QGEN stock traded down $0.86 during midday trading on Monday, reaching $42.14. 216,887 shares of the company’s stock traded hands, compared to its average volume of 1,189,310. The company has a 50-day moving average price of $45.10 and a two-hundred day moving average price of $43.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.46 and a current ratio of 1.77. Qiagen has a 52 week low of $34.74 and a 52 week high of $47.44. The firm has a market capitalization of $9.62 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 3.36 and a beta of 0.39.

Qiagen (NYSE:QGEN) last issued its earnings results on Wednesday, July 31st. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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 net margin of 3.75% and a return on equity of 12.92%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, equities analysts anticipate that Qiagen will post 2.15 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on QGEN shares. Hsbc Global Res upgraded Qiagen to a “hold” rating in a report on Thursday. Wolfe Research upgraded Qiagen from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Thursday, June 27th. HSBC downgraded Qiagen from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research note on Thursday. Finally, Robert W. Baird upped their price objective on Qiagen from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.12.

Qiagen 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.