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Investing.com - Berenberg raised its price target on QIAGEN NV (NYSE:QGEN) to EUR50.00 from EUR48.00 while maintaining a Buy rating. The stock, currently trading near its 52-week high of $50.83, has delivered a strong 20.6% return over the past year.
The research firm noted that QIAGEN’s growth pillars are performing well overall despite challenging macro conditions, positioning the company to achieve its fiscal year 2025 guidance. According to InvestingPro data, 10 analysts have recently revised their earnings estimates upward, with net income expected to grow this year.
Berenberg highlighted QIAGEN’s status as a top-three market participant across its growth pillars, offering defensive mid-single-digit revenue growth with margin expansion.
The firm pointed to QIAGEN’s business model strength, with approximately 90% of revenues coming from recurring consumables that are integral to various life sciences and diagnostics applications.
QIAGEN’s product portfolio remains essential to customers across multiple scientific and diagnostic applications, supporting Berenberg’s continued Buy rating alongside the price target increase.
In other recent news, QIAGEN has made significant strides with several strategic developments. The company completed the acquisition of Genoox, an AI software company, for $70 million, with potential additional milestone payments. This acquisition aims to enhance QIAGEN’s capabilities in genetic data analysis, integrating Genoox’s Franklin platform into its Digital Insights suite. Additionally, QIAGEN has announced plans to propose an annual cash dividend of $0.25 per share, pending shareholder approval, which could result in a total payout of approximately $54 million.
In partnership news, QIAGEN has teamed up with Gencurix to develop oncology assays for its QIAcuityDx digital PCR platform. This collaboration focuses on creating multiplex assays for both tissue and liquid biopsy applications. Furthermore, QIAGEN has also partnered with Foresight Diagnostics to develop a kit-based version of the CLARITY™ assay for lymphoma and other blood cancers. This partnership seeks to leverage Foresight’s MRD technology with QIAGEN’s molecular diagnostics expertise. These recent developments reflect QIAGEN’s ongoing efforts to expand its diagnostic offerings and enhance shareholder value.
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