Barclays Believes QGEN Still Has Room to Grow

By Jason Carr

In a report released today, Jack Meehan from Barclays reiterated a Buy rating on Qiagen N.V. (NASDAQ: QGEN), with a price target of $28. The company’s shares opened today at $26.89, close to its 52-week high of $28.04.

According to TipRanks.com, Meehan is a 1-star analyst with an average return of -6.7% and a 26.3% success rate. Meehan covers the Healthcare sector, focusing on stocks such as Quest Diagnostics Inc., Laboratory Corp., and Genomic Health.

Qiagen N.V. has an analyst consensus of Moderate Buy, with a price target consensus of $28.

Based on Qiagen N.V.’s latest earnings report from June 30, the company posted quarterly revenue of $334.4M and quarterly net profit of $21M. In comparison, last year the company earned revenue of $314.6M and had a net profit of $33.93M.

QIAGEN NV manufactures and distributes sample and assay technology products for preanalytical sample preparations. Its products include instruments, consumables, and detection technologies. The company was founded by Detlev H. Riesner and Metin Colpan on April 29, 1996, and is headquartered in Venlo, Netherlands.