JPMorgan Chase & Co. Increases Stake in Qiagen

During the third quarter, JPMorgan Chase & Co. significantly increased its investment in Qiagen (NYSE:QGEN) by 36.0%, as reported by various financial sources. By the end of this period, the institutional investor held a total of 1,604,034 shares of Qiagen after acquiring an additional 424,937 shares. The overall value of JPMorgan Chase & Co.’s holdings in QGEN reached approximately $73,096,000.

A few other large institutional investors have also made changes to their positions in Qiagen. For instance, GAMMA Investing LLC notably raised its stake in Qiagen by an impressive 806.5% during the same quarter and currently owns 562 shares valued at around $26,000 after buying an extra 500 shares. Additionally, Toronto Dominion Bank acquired a new stake in Qiagen, estimated to be worth about $27,000. Similarly, Massmutual Trust Co. FSB ADV increased its holdings by 39.8%, ending up with 853 shares, valued at $39,000 after purchasing 243 more shares during the last quarter. Wilmington Savings Fund Society FSB also bought a new position in Qiagen valued at $53,000 during the third quarter. Lastly, Headlands Technologies LLC raised its QGEN stake by 396.6% in the previous quarter, now owning 2,741 shares worth $113,000. Currently, institutional investors own around 70.00% of Qiagen stock.

Analyst Opinions on Qiagen

Qiagen has been featured in several recent research reports, with varied perspectives from analysts. HSBC recently downgraded the stock from a “buy” rating to a “hold” rating while setting a target price of $49.00. On the other hand, Jefferies Financial Group reaffirmed a “buy” rating on Qiagen, adjusting its price target upward from $42.00 to $54.00 in a report dated December 10th. In another note, HSBC Global Research raised its rating to a “hold” status. Overall, out of the research analysts tracking Qiagen, three have issued hold ratings while six have provided buy ratings, leading to an average rating of “Moderate Buy” along with a consensus price target of $51.88 according to MarketBeat.

Qiagen Stock Overview

As of Friday, Qiagen shares opened at $44.97. Over the past year, the stock has seen a low of $39.03 and a high of $47.44. Qiagen holds a market capitalization of $10.26 billion and has a PE ratio of 115.31, along with a price-to-earnings-growth ratio of 3.52. The stock has demonstrated low volatility with a beta of 0.35. Moreover, its fifty-day and two-hundred-day simple moving averages stand at $43.75 and $43.82 respectively. Financially, the company showcases strong liquidity with a current ratio of 2.17 and a quick ratio of 1.89, coupled with a manageable debt-to-equity ratio of 0.39.

About Qiagen

QIAGEN N.V. specializes in providing sample-to-insight solutions, aimed at transforming biological materials into molecular insights across the globe. Its offerings include primary sample technology consumables such as nucleic stabilization and purification kits, both manual and automated processing for various types of molecular analysis including genotyping, gene expression, and viral and bacterial studies. Furthermore, the company supplies secondary sample technology consumables and various instruments for nucleic acid purification.

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