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QIAGEN Rides on Solid QuantiFERON-TB Sales Amid Several Woes

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On Nov 15, 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).

QIAGEN ended the third quarter on a mixed note with earnings beating and revenues missing the estimates. The company registered revenue growth across majority of its geographies and operating segments. We are also upbeat about the company’s Sample to Insight portfolio progress in the period.

Developments like QuantiFERON-TB’s growth at 18% CER and continued momentum of the QIAstat-Dx and QIAsymphony are appreciative. The recently-inked 15-year strategic partnership with Illumina is also encouraging. Additionally, we are impressed with the company’s strong international performance. Further, it steadily gained traction from its collaboration with DiaSorin. 

Among other highlights, the company is optimistic about its key strategic collaborations with Hamilton Robotics and Tecan for the pre-analytical handling of blood tubes.

On the flip side, a revenue guidance cut for 2019 and contraction of both margins are concerning. Moreover, a tough competitive environment and adverse currency fluctuations depreciated the share price.

QIAGEN has underperformed its industry in the past month. The stock has dipped 0.5% compared with the industry’s 0.4% fall.

Stocks Worth a Look

Some better-ranked stocks from the broader medical space are Haemonetics Corporation (HAE - Free Report) , NuVasive, Inc (NUVA - Free Report) and ResMed Inc (RMD - Free Report) .

Haemonetics currently has a Zacks Rank #1 (Strong Buy) and a projected long-term earnings growth rate of 13.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.

NuVasive estimates long-term earnings growth of 10.9%. The stock currently has a Zacks Rank #2 (Buy).

ResMed’s long-term earnings growth rate is expected at 12.9%. It currently carries a Zacks Rank of 2.

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