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QIAGEN (QGEN) Rides on Test Launches Amid COVID-19 Woes
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On Mar 8, we issued an updated research report on QIAGEN N.V. (QGEN - Free Report) . The company's business is consistently getting a boost from its flourishing molecular diagnostic market. However, overdependence on relationships with collaborative partners and foreign exchange headwinds are downsides. The stock currently has a Zacks Rank #3 (Hold).
Over the past year, QIAGEN has outperformed the industry it belongs to. The stock has climbed 14.9% compared with the industry’s 10.3% rise.
QIAGEN exited the fourth quarter of 2020 with better-than-expected results. It registered revenue growth across all geographies and operating segments. The company’s high level of sales for product groups used in the COVID-19 pandemic response drove the top line. Orders for the QIAcuity series of digital polymerase chain reaction (PCR) platforms reached over 200 at the end of 2020, only a few months after its launch in September 2020. With the rise in demand for sequencing potential mutation, QIAseq SARS-CoV2 Primer Panel has been launched for use in comprehensive monitoring of sequence drift of the virus around the world.
During the quarter, QIAGEN has expanded specimen types that can be used on the existing NeuMoDx SARSCoV-2 test. Also, the FDA’s EUA approval has been obtained for the use of saliva samples collected with the NeuMoDx Saliva Collection Kit. With the recent launch of the QIAcuity OneStep Viral RT-PCR kit, QIAcuity platforms are being increasingly utilized in COVID-19 wastewater testing to quantify pathogen load in populations and track viral mutations. Expansion of the adjusted operating margin and a raised full-year outlook are impressive.
QIAGEN currently markets products in more than 100 countries. In the quarter under review, revenues from Europe-Middle East-Africa (40% of sales) rose 54% reportedly (up 48% at constant exchange rate or CER) to $225 million. Revenues from Asia-Pacific/Japan (17% of sales) rose 14% year over year on a reported basis (up 10% at CER) to $99 million. Sales from the Americas (43% of sales) totaled $247 million, up 38% both on a reported basis and at CER.
On the flip side, lower QuantiFERON latent tuberculosis test sales due to adverse trends in the Asia-Pacific region and adjusted gross margin contraction are concerns. A weak solvency position, foreign exchange instability and tough competition persist.
Tough competitive landscape, strong reliance on relationships with collaborative partners and foreign exchange headwinds are the other downsides.
ConforMIS has a projected long-term earnings growth rate of 42%.
IDEXX Laboratories has a projected long-term earnings growth rate of 16%.
Bioanalytical Systems has a projected long-term earnings growth rate of 15%.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
QIAGEN (QGEN) Rides on Test Launches Amid COVID-19 Woes
On Mar 8, we issued an updated research report on QIAGEN N.V. (QGEN - Free Report) . The company's business is consistently getting a boost from its flourishing molecular diagnostic market. However, overdependence on relationships with collaborative partners and foreign exchange headwinds are downsides. The stock currently has a Zacks Rank #3 (Hold).
Over the past year, QIAGEN has outperformed the industry it belongs to. The stock has climbed 14.9% compared with the industry’s 10.3% rise.
QIAGEN exited the fourth quarter of 2020 with better-than-expected results. It registered revenue growth across all geographies and operating segments. The company’s high level of sales for product groups used in the COVID-19 pandemic response drove the top line. Orders for the QIAcuity series of digital polymerase chain reaction (PCR) platforms reached over 200 at the end of 2020, only a few months after its launch in September 2020. With the rise in demand for sequencing potential mutation, QIAseq SARS-CoV2 Primer Panel has been launched for use in comprehensive monitoring of sequence drift of the virus around the world.
During the quarter, QIAGEN has expanded specimen types that can be used on the existing NeuMoDx SARSCoV-2 test. Also, the FDA’s EUA approval has been obtained for the use of saliva samples collected with the NeuMoDx Saliva Collection Kit. With the recent launch of the QIAcuity OneStep Viral RT-PCR kit, QIAcuity platforms are being increasingly utilized in COVID-19 wastewater testing to quantify pathogen load in populations and track viral mutations. Expansion of the adjusted operating margin and a raised full-year outlook are impressive.
QIAGEN N.V. Price
QIAGEN N.V. price | QIAGEN N.V. Quote
QIAGEN currently markets products in more than 100 countries. In the quarter under review, revenues from Europe-Middle East-Africa (40% of sales) rose 54% reportedly (up 48% at constant exchange rate or CER) to $225 million. Revenues from Asia-Pacific/Japan (17% of sales) rose 14% year over year on a reported basis (up 10% at CER) to $99 million. Sales from the Americas (43% of sales) totaled $247 million, up 38% both on a reported basis and at CER.
On the flip side, lower QuantiFERON latent tuberculosis test sales due to adverse trends in the Asia-Pacific region and adjusted gross margin contraction are concerns. A weak solvency position, foreign exchange instability and tough competition persist.
Tough competitive landscape, strong reliance on relationships with collaborative partners and foreign exchange headwinds are the other downsides.
Stocks Worth a Look
A few better-ranked stocks from the broader medical space are ConforMIS, Inc. , IDEXX Laboratories, Inc. (IDXX - Free Report) and Bioanalytical Systems, Inc. , each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
ConforMIS has a projected long-term earnings growth rate of 42%.
IDEXX Laboratories has a projected long-term earnings growth rate of 16%.
Bioanalytical Systems has a projected long-term earnings growth rate of 15%.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>