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QIAGEN (QGEN) Reports Preliminary Revenue Results for Q1
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QIAGEN N.V. (QGEN - Free Report) has announced preliminary revenue results for first-quarter 2020 on Apr 9. The company expects to release its full financial results for the period in early May. Following the announcement, its shares gained 0.9% to close at $40.20 yesterday.
QIAGEN expects an adverse impact on first-quarter results from the unfavorable currency movement, based on actual exchange rates as of Mar 31, 2020. The impact has been expected to be of two percentage points on net sales at actual rates. It is also projected to result in an adverse impact of up to a penny per share on adjusted earnings per share (EPS). Per the prelim announcement, the company expects adjusted EPS of 34-35 cents at constant exchange rate (CER). This compares with the earlier provided guidance of 28-29 cents at CER.
For the to-be-reported quarter, QIAGEN expects a rise in net sales of 9% at CER, exceeding the guidance of 2-3% CER growth. The top line is expected to primarily benefit from strong demand for solutions used for the coronavirus testing. However, the company expects weaker customer demand in other product areas. The Zacks Consensus Estimate for the metric is currently pegged at a break-even level.
Share Price Movement
QIAGEN has outperformed its industry over the past three months. The stock has gained 17.6% against a 4.3% decline of the industry and S&P 500’s fall of 16.8%.
Zacks Rank & Stocks to Consider
QIAGEN currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are ResMed Inc. (RMD - Free Report) , National Vision Holdings, Inc. (EYE - Free Report) and Phibro Animal Health Corporation (PAHC - Free Report) .
National Vision’s long-term earnings growth rate is estimated at 10.7%. The company presently has a Zacks Rank #2.
Phibro’s long-term earnings growth rate is estimated at 2.1%. It currently carries a Zacks Rank #2.
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QIAGEN (QGEN) Reports Preliminary Revenue Results for Q1
QIAGEN N.V. (QGEN - Free Report) has announced preliminary revenue results for first-quarter 2020 on Apr 9. The company expects to release its full financial results for the period in early May. Following the announcement, its shares gained 0.9% to close at $40.20 yesterday.
QIAGEN expects an adverse impact on first-quarter results from the unfavorable currency movement, based on actual exchange rates as of Mar 31, 2020. The impact has been expected to be of two percentage points on net sales at actual rates. It is also projected to result in an adverse impact of up to a penny per share on adjusted earnings per share (EPS). Per the prelim announcement, the company expects adjusted EPS of 34-35 cents at constant exchange rate (CER). This compares with the earlier provided guidance of 28-29 cents at CER.
For the to-be-reported quarter, QIAGEN expects a rise in net sales of 9% at CER, exceeding the guidance of 2-3% CER growth. The top line is expected to primarily benefit from strong demand for solutions used for the coronavirus testing. However, the company expects weaker customer demand in other product areas. The Zacks Consensus Estimate for the metric is currently pegged at a break-even level.
Share Price Movement
QIAGEN has outperformed its industry over the past three months. The stock has gained 17.6% against a 4.3% decline of the industry and S&P 500’s fall of 16.8%.
Zacks Rank & Stocks to Consider
QIAGEN currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are ResMed Inc. (RMD - Free Report) , National Vision Holdings, Inc. (EYE - Free Report) and Phibro Animal Health Corporation (PAHC - Free Report) .
ResMed has a projected long-term earnings growth rate of 14.4%. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
National Vision’s long-term earnings growth rate is estimated at 10.7%. The company presently has a Zacks Rank #2.
Phibro’s long-term earnings growth rate is estimated at 2.1%. It currently carries a Zacks Rank #2.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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