Massachusetts Financial Services recently announced the acquisition of new stake in Qiagen N.V. (NYSE:QGEN). The institutional investor has increased its shareholding in the Healthcare company by 1.63% to 21.2 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 9.31% valued currently at $945.58 million. In addition, Norges Bank Investment Management raised its holdings by 1.18 million to 6.92 million shares. And The Vanguard Group, Inc. has lifted its position by 0.99% or 58986.0 shares – to 6.04 million shares.
With over 1.28 million Qiagen N.V. (QGEN) shares trading Tuesday and a closing price of $45.93 on the day, the dollar volume was approximately $58.79 million. The shares have shown a negative half year performance of -4.61% and its price on 05/23/23 gained nearly 2.20%. Currently, there are 229.82M common shares owned by the public and among those 226.94M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for QGEN have a consensus price objective of $53.89. The analysts have set the share’s price value over the next 12 months at a high of $62.00 and a low of $42.50. The average price target is 14.93% above its recent price level and a downside to the estimated low will see the stock lose -8.07% over that period. But an upside of 25.92% will see the stock hit the forecast high price target while median target price for the stock is $55.00.
Insiders at the company have transacted a total of 12 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 117,563 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 94,796 shares.
The top 3 mutual fund holders in Qiagen N.V. are Government Pension Fund – Global, MFS International Growth Fund, and MFS Research International Fund. Government Pension Fund – Global owns 6.33 million shares of the company’s stock, all valued at over $282.57 million. The company bought an additional 1.38 million shares recently to bring their total holdings to about 2.78% of the shares outstanding. MFS International Growth Fund bought 0.12 million shares to see its total holdings expand to 3.85 million shares valued at over $171.86 million and representing 1.69% of the shares outstanding. MFS Research International Fund sold 57578.0 shares to bring its total holdings to over 3.77 million shares at a value of $168.02 million. MFS Research International Fund now owns shares totaling to 1.65% of the shares outstanding.
Shares of Qiagen N.V. (NYSE: QGEN) opened at $46.32, up $1.38 from a prior closing price of $44.94. However, the script later moved the day high at 46.32, up 2.20%. The company’s stock has a 5-day price change of 1.50% and -1.18% over the past three months. QGEN shares are trading -7.90% year to date (YTD), with the 12-month market performance up to 1.46% higher. It has a 12-month low price of $40.38 and touched a high of $51.18 over the same period. QGEN has an average intraday trading volume of 801.10K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.97%, 0.77%, and -1.43% respectively.
Institutional ownership of Qiagen N.V. (NYSE: QGEN) shares accounts for 71.40% of the company’s 229.82M shares outstanding. Mutual fund holders own 24.81%, while other institutional holders and individual stakeholders account for 51.29% and — respectively.
It has a market capitalization of $10.42B and a beta (3y monthly) value of 0.37. The stock’s trailing 12-month PE ratio is 29.94, while the earnings-per-share (ttm) stands at $1.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.01% over the week and 1.10% over the month.
Analysts forecast that Qiagen N.V. (QGEN) will achieve an EPS of $0.5 for the current quarter, $0.54 for the next quarter and $2.31 for 2024. The lowest estimate earnings-per-share for the quarter is $0.5 while analysts give the company a high EPS estimate of $0.51. Comparatively, EPS for the current quarter was $0.51 a year ago. Earnings per share for the fiscal year are expected to decrease by -16.80%, and 9.39% over the next financial year. EPS should shrink at an annualized rate of -4.01% over the next five years, compared to 86.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Qiagen N.V. (QGEN) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 10 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
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