Here's Why Investors Should Retain QIAGEN (QGEN) Stock Now

16.05.24 14:45 Uhr

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QIAGEN N.V. QGEN is likely to grow in the coming quarters, backed by its strong potential in the next-generation sequencing (NGS) platform. QIAGEN’s long-term business strategy involves forming partnerships with academic, corporate and other partners for product development, which is very promising. A strong solvency position also buoys optimism.Meanwhile, concerns loom over the impact of macroeconomic challenges on QIAGEN’s operations. Competitive disadvantages may also hurt its performance.In the past year, this Zacks Rank #3 (Hold) stock has declined 1.2% compared with a 9.4% decrease of the industry. The S&P 500 composite has witnessed a 26.2% rise in the said time frame.The renowned global provider of sample and assay technologies has a market capitalization of $10.36 billion. QIAGEN has an earnings yield of 4.60% compared with the industry’s -25.17%. QGEN’s earnings surpassed estimates in three of the trailing four quarters, delivering an average surprise of 1.7%.Let’s delve deeper.UpsidesSolid NGS Platform Prospects: QIAGEN’s NGS portfolio has witnessed strong double-digit revenue growth over the past few quarters. The addition of NGS leaders like Verogen has enhanced its leadership in the fast-growing field of Human ID /forensics based on sample collection and preparation, genetic testing analysis and workflow automation. Moreover, QIAGEN’s partnership with Element Biosciences to offer NGS workflow on their AVITI System aligns with its strategy to provide platform-agnostic next-generation sequencing consumable and bioinformatics solutions.In the first quarter of 2024, the Genomics/NGS group reported higher sales of universal library prep kits for use with third-party next-generation sequencers. The QDI business continued to see solid demand trends, setting out an optimistic CER growth outlook for the full year. Furthermore, QIAGEN continuously integrates AI technology into the QDI portfolio, launching an AI-driven knowledge base for drug discovery and enhancing QCI Interpret software for rare disease gene coverage.Strategic Collaborations to Drive Growth: In the first quarter, the company teamed up with Penn State University to help shape research, education and outreach in microbiomes. QIAGEN’s comprehensive microbiome portfolio includes tools for every aspect of the scientific workflow, along with robust bioinformatics tools for digital analysis.Image Source: Zacks Investment ResearchWith the IPPA partnership, QIAGEN reinforces its commitment to TB screening. Its collaboration with Element Biosciences promises to deliver unprecedented insights across various genomic applications to our customers worldwide. Last year, QIAGEN and Myriad Genetics announced a master collaboration agreement to offer NGS and digital PCR solutions to pharma companies for the development of cancer tests.Favorable Solvency: QIAGEN demonstrated strong financial stability, exiting the first quarter of 2024 with cash and cash equivalents and short-term investments of $893.1 million and a current debt of $591 million. The long-term debt (net of the current portion) was $912.8 million compared to $921.8 million at 2023-end.DownsidesMacro Headwinds Hamper Global Sales: QIAGEN’s wide international presence is subject to a variety of risks arising from the economy, political outlook, language and cultural barriers in the countries it operates. In many of these emerging markets, QIAGEN faces several risks, such as weak legal systems, unstable governments, privatization or other government actions affecting the flow of goods and currency.The company’s net sales declined 5% in the first quarter compared to the first quarter of 2023 due to challenging macro demand trends. Sales in China also declined at a double-digit CER rate.Competitive Headwinds: QIAGEN faces increasing competition from firms that provide competitive pre-analytical solutions and other products used by QIAGEN’s customers. Competitors may have significant advantages in terms of financial, operational, sales and marketing resources and experience in research and development, making it difficult to convert customers who have already purchased products from them.Estimate TrendIn the past 30 days, the Zacks Consensus Estimate for QIAGEN’s 2024 earnings per share has remained constant at $2.09.The Zacks Consensus Estimate for the company’s 2023 revenues is pegged at $1.99 billion. This suggests an increase of 1.5% from the year-ago reported number.Key PicksSome better-ranked stocks in the broader medical space are High Tide HITI, Hims & Hers Health HIMS and Medpace MEDP.High Tide’s earnings are expected to surge 100% in 2024 compared with the industry’s 17.7%. HITI’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 91.7%. Its shares have surged 81.1% against the industry’s 2.9% fall in the past year.HITI sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Hims & Hers Health, sporting a Zacks Rank #1 at present, has an estimated 2024 earnings growth rate of a staggering 263.6% compared to the industry’s 17.7%. Shares of the company have increased 31.2% against the industry’s 24% fall over the past year.HIMS’ earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 79.2%. In the last reported quarter, it delivered an average earnings surprise of 150%.Medpace, also sporting a Zacks Rank #1 at present, has an estimated 2024 earnings growth rate of 27.1% compared to the industry’s 13.4%. Shares of MEDP have rallied 92.6% compared with the industry’s 5.5% rise over the past year.MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an average earnings surprise of 30.6%.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report QIAGEN N.V. (QGEN): Free Stock Analysis Report Medpace Holdings, Inc. (MEDP): Free Stock Analysis Report Hims & Hers Health, Inc. (HIMS): Free Stock Analysis Report High Tide Inc. (HITI): Free Stock Analysis ReportTo read this article on click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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Quelle: Zacks

Nachrichten zu QIAGEN N.V.

Analysen zu QIAGEN N.V.

21.05.2024QIAGEN BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
02.05.2024QIAGEN NeutralUBS AG
02.05.2024QIAGEN NeutralUBS AG
30.04.2024QIAGEN BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
30.04.2024QIAGEN BuyDeutsche Bank AG
21.05.2024QIAGEN BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
30.04.2024QIAGEN BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
30.04.2024QIAGEN BuyDeutsche Bank AG
16.04.2024QIAGEN BuyDeutsche Bank AG
16.02.2024QIAGEN BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
02.05.2024QIAGEN NeutralUBS AG
02.05.2024QIAGEN NeutralUBS AG
30.04.2024QIAGEN NeutralUBS AG
30.04.2024QIAGEN HoldJefferies & Company Inc.
01.03.2024QIAGEN NeutralUBS AG
17.02.2021QIAGEN VerkaufenIndependent Research GmbH
14.12.2020QIAGEN VerkaufenDZ BANK
10.12.2020QIAGEN VerkaufenIndependent Research GmbH
24.11.2020QIAGEN VerkaufenIndependent Research GmbH
11.11.2020QIAGEN VerkaufenDZ BANK

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