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Qiagen NV (QGEN)
NYSE:QGEN
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Qiagen
(NYSE:QGEN)74Outperform
Positive Factors
Capital Allocation
Qiagen's capital allocation strategy includes potential bolt-ons and buybacks, with strong free cash flow providing optionality.
Operating Margins
Management expressed confidence in the ability to grow operating margins past 30%, aided by operational initiatives and the wind-down of NeuMoDx.
Negative Factors
Competitive Pressures
Competitive pressures could intensify, potentially limiting share price outperformance.
Qiagen (QGEN) vs. S&P 500 (SPY)
Market Cap
$8.36B
Dividend YieldN/A
Average Volume (3M)1.38M
Price to Earnings (P/E)102.9
Beta (1Y)0.71
Revenue Growth0.62%
EPS Growth-72.32%
CountryUS
Employees5,967
SectorHealthcare
Sector Strength74
IndustryMedical Diagnostics & Screening
Share Statistics
EPS (TTM)0.37
Shares Outstanding217,680,560
10 Day Avg. Volume1,057,565
30 Day Avg. Volume1,383,241
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)4.20
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$48.37Price Target Upside27.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
Qiagen Business Overview & Revenue Model
Company DescriptionQiagen N.V. is a prominent player in the biotech and life sciences sectors, specializing in the development and supply of sample and assay technologies. These technologies are essential for molecular diagnostics, applied testing, academic and pharmaceutical research. Qiagen's comprehensive portfolio includes products that enable the purification, separation, and analysis of DNA, RNA, and proteins, serving a diverse range of applications in research and clinical diagnostics.
How the Company Makes MoneyQiagen generates revenue primarily through the sale of consumable products and instruments that are integral to molecular testing workflows. Its key revenue streams include sales from its consumables and related products, which are used in sample preparation and testing processes across various applications including human health, forensics, and veterinary testing. Additionally, Qiagen earns revenue through the sale of its instruments that automate these workflows, as well as through service contracts, software, and other support solutions that ensure the efficient operation of their technologies. Strategic partnerships and collaborations with pharmaceutical companies, research institutions, and healthcare providers also play a significant role in expanding their market reach and developing innovative solutions, further contributing to their earnings.
Qiagen Financial Statement Overview
Summary
Qiagen shows a stable financial position with strong cash flow and moderate leverage. However, the company faces challenges in revenue growth and profitability, which have recently declined despite a solid balance sheet.Income Statement
Qiagen's revenue has shown fluctuations over the years with a recent decline. The TTM gross profit margin stands at 49.7%, with a net profit margin of 4.7%. EBIT and EBITDA margins are 5.9% and 18% respectively for TTM, indicating moderate operational efficiency. The decline in revenue and profitability metrics from previous years suggests some challenges in sustaining growth.72
Positive
Balance Sheet
The company maintains a healthy equity base with an equity ratio of 56.3% as of the latest TTM. The debt-to-equity ratio is moderate at 0.54, indicating a balanced approach to leverage. However, the return on equity has decreased, standing at 2.6% for TTM, reflecting lower profitability.75
Positive
Cash Flow
Qiagen's cash flow position is relatively strong with a significant free cash flow of $459.6 million in TTM, showing a positive growth trend. The operating cash flow to net income ratio is robust at 6.82, indicating good cash generation capability relative to net income.80
Positive
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 1.97B | 1.97B | 2.14B | 2.25B | 1.87B | 1.53B | Gross Profit |
| 976.48M | 1.22B | 1.38B | 1.45B | 1.23B | 1.01B | EBIT |
| 116.40M | 445.25M | 531.46M | 630.08M | 554.90M | 336.22M | EBITDA |
| 354.26M | 688.55M | 779.36M | 895.24M | 715.80M | 227.87M | Net Income Common Stockholders |
| 92.93M | 341.30M | 423.21M | 512.60M | 73.64M | -41.45M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 1.06B | 1.06B | 1.42B | 1.07B | 714.25M | 753.23M | Total Assets |
| 6.12B | 6.12B | 6.29B | 6.15B | 5.97B | 5.24B | Total Debt |
| 1.61B | 1.61B | 1.86B | 1.94B | 2.03B | 1.71B | Net Debt |
| 943.04M | 943.04M | 1.13B | 1.06B | 1.43B | 1.08B | Total Liabilities |
| 2.31B | 2.31B | 2.82B | 3.05B | 3.49B | 2.70B | Stockholders Equity |
| 3.81B | 3.81B | 3.47B | 3.10B | 2.48B | 2.54B |
| Cash Flow | Free Cash Flow | ||||
| 459.60M | 296.65M | 565.93M | 432.47M | 188.03M | 55.96M | Operating Cash Flow |
| 633.41M | 459.45M | 715.26M | 639.00M | 492.27M | 330.84M | Investing Cash Flow |
| -300.90M | -87.66M | -726.76M | -202.43M | -453.29M | -222.28M | Financing Cash Flow |
| 58.64M | -433.83M | -125.80M | -150.37M | -74.32M | -639.08M |
Qiagen Technical Analysis
Negative
37.82
Price Trends
43.20
Negative
43.22
Negative
43.64
Negative
Market Momentum
-1.44
Positive
29.99
Positive
7.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QGEN, the sentiment is Negative. The current price of 37.82 is below the 20-day moving average (MA) of 40.27, below the 50-day MA of 43.20, and below the 200-day MA of 43.64, indicating a bearish trend. The MACD of -1.44 indicates Positive momentum. The RSI at 29.99 is Positive, neither overbought nor oversold. The STOCH value of 7.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QGEN.
Qiagen Risk Analysis
Qiagen disclosed 38 risk factors in its most recent earnings report. Qiagen reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Qiagen Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $8.36B | 102.88 | 2.63% | ― | 0.62% | -72.32% | |
70 Outperform | $194.88B | 31.23 | 12.78% | 0.30% | 0.05% | 6.87% | |
65 Neutral | $147.01B | 38.89 | 7.87% | 0.53% | -13.50% | -17.25% | |
64 Neutral | $8.92B | ― | -1.03% | ― | -2.91% | -108.02% | |
49 Neutral | $7.05B | 0.34 | -55.09% | 2.46% | 25.27% | -3.43% | |
49 Neutral | $13.45B | ― | -51.54% | ― | -2.93% | -4.69% | |
48 Neutral | $7.11B | ― | -28.07% | ― | -3.92% | -202.80% |
* Healthcare Sector Average
Performance Comparison
QGEN
Qiagen
37.82
-6.12
-13.93%
BIO
Bio-Rad Laboratories
250.50
-80.44
-24.31%
DHR
Danaher
205.91
-47.39
-18.71%
ILMN
Illumina
84.89
-46.00
-35.14%
RGEN
Repligen
154.81
-37.26
-19.40%
TMO
Thermo Fisher
516.57
-66.45
-11.40%
Qiagen Earnings Call Summary
Earnings Call Date: Feb 5, 2025 | % Change Since: -13.65% | Next Earnings Date: May 5, 2025
Earnings Call Sentiment Positive
Qiagen N.V. delivered a strong performance in Q4 2024, exceeding expectations in net sales and adjusted earnings, with significant growth in key product segments and improved profitability. However, challenges remain in specific regions and market segments, with cautious market conditions and declines in certain areas such as the Asia Pacific Japan region and Sample Technologies. Overall, the achievements and growth initiatives position the company well for future growth, despite current challenges.Highlights
Strong Performance and Outlook Exceeded
Qiagen N.V. exceeded its Q4 2024 outlook for both net sales and adjusted earnings, with net sales at €521 million, growing 3% CER, and adjusted diluted EPS at $0.61 CER, surpassing the target of at least $0.60 CER.
Record Growth in Key Segments
KIAstat Diagnostics saw 25% CER growth in Q4 2024, with over 616 new system placements. QuantiFERON achieved 14% growth in Q4 and 11% CER growth for the year.
Significant Improvements in Profitability
Adjusted operating income margin rose by 2.6 percentage points in Q4 2024 to 30.6% of sales. Free cash flow increased by 63% to €506 million in 2024 compared to 2023.
Successful Product Launches and FDA Clearances
FDA clearances were achieved for four panels for the KIAstat Dx syndromic testing system, and QIAcuity diagnostic capabilities were expanded for clinical use.
Commitment to Shareholder Returns
Qiagen N.V. completed a $300 million share repurchase early 2025, reaffirming its commitment to return at least $1 billion to shareholders by the end of 2028.
Lowlights
Decline in Asia Pacific Japan Region
Sales in the Asia Pacific Japan region declined 5% CER in Q4 2024, with China sales declining at a low teens CER rate compared to the previous year.
Softness in Sample Technologies
Sample Technologies sales declined slightly in Q4 2024 due to weaker instrument sales, with a 3% CER decline for the full year, impacted by pandemic headwinds.
Cautious Market Conditions
The company noted cautious spending by customers and a challenging macro environment, which could impact growth and require a balanced view on market challenges.
Company Guidance
During the Qiagen N.V. Q4 2024 earnings call, the company reported strong financial performance, exceeding their outlook for both net sales and adjusted earnings. They achieved net sales of €521 million in Q4, marking a 3% growth at constant exchange rates (CER), and surpassed their goal of €520 million CER. The company's core business sales grew 4% CER, excluding discontinued products. Adjusted diluted EPS was $0.61 CER, exceeding the target of $0.60 CER. For the full year 2024, Qiagen exceeded their net sales outlook of €1.985 billion CER and adjusted EPS outlook of $2.19 CER. Key growth contributors included the KIAstat Diagnostics with 25% CER growth in Q4 and QuantiFERON with 14% growth in Q4. Qiagen also expanded their QIAcuity digital PCR platform and achieved a 63% increase in free cash flow to €506 million in 2024. The company announced a new synthetic share repurchase of approximately $300 million, reaffirming their commitment to returning at least $1 billion to shareholders by 2028. Looking forward, Qiagen expects net sales growth of approximately 4% CER and adjusted diluted EPS of at least $2.28 CER for 2025.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.