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Qiagen
(NYSE:QGEN)
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Rating:74Outperform
Price Target:
$47.00
▲(13.61% Upside)
Action:Reiterated
Date:08/10/26
QGEN scores well primarily on solid financial performance (strong margins and improving TTM growth, with manageable leverage) and supportive valuation (moderate P/E with a high dividend yield). Technicals add a positive tailwind with an upward trend and healthy momentum, though near-overbought signals cap upside. Earnings call commentary is broadly constructive with reaffirmed guidance and expected H2 acceleration, but near-term category/regional weakness, modest margin pressure, inventory build, and leadership transition uncertainty keep the score in the mid-70s.
Positive Factors
Recurring Consumables
Qiagen's core business model centers on consumables that are purchased repeatedly per test, supported by instrument placements that generate long-term pull-through. This creates predictable, recurring revenue and strong unit economics that support durable cash flow and margin stability over time.
Negative Factors
Profitability & Revenue Volatility
Historical swings in profitability and episodic revenue declines erode predictability: uneven cash conversion and sharp margin declines in 2024 show that working capital and product mix shifts can materially impact results, complicating planning and potentially pressuring reinvestment or payouts.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Consumables
Qiagen's core business model centers on consumables that are purchased repeatedly per test, supported by instrument placements that generate long-term pull-through. This creates predictable, recurring revenue and strong unit economics that support durable cash flow and margin stability over time.
Read all positive factors
Qiagen Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down sales across regions to reveal where Qiagen is strongest and where growth opportunities or risks lie. Geographic splits expose exposure to local healthcare spending, regulatory environments, pandemic-related demand swings, and currency or market-concentration risks that can materially affect future results.
Breaks down sales across regions to reveal where Qiagen is strongest and where growth opportunities or risks lie. Geographic splits expose exposure to local healthcare spending, regulatory environments, pandemic-related demand swings, and currency or market-concentration risks that can materially affect future results.
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The Fly
The FlyQiagen (QGEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.72B
Dividend Yield6.02%
Average Volume (3M)2.79M
Price to Earnings (P/E)22.5
Beta (1Y)0.62
Revenue Growth2.96%
EPS Growth9.52%
CountryUS
Employees5,500
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)1.95
Shares Outstanding206,074,750
10 Day Avg. Volume2,404,648
30 Day Avg. Volume2,791,770
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)2.61
Price to Sales (P/S)4.71
P/FCF Ratio21.72
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$44.25Price Target Upside6.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)2.42
Revenue Forecast (FY)$2.14B
Qiagen Business Overview & Revenue Model
Company Description
Qiagen N.V. provides sample to insight solutions that transform biological samples into molecular insights worldwide. The company offers sample technology consumables, such as nucleic acid stabilization and purification kits for sample materials, ...
How the Company Makes Money
QIAGEN makes money primarily by selling life-science and molecular diagnostic products used in laboratory workflows, with revenue largely driven by recurring consumables. Key revenue streams include: (1) Consumables (kits, reagents, and assay comp...
Qiagen Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call was broadly positive: management reported results above outlook for sales and adjusted EPS, strong cash generation, high profitability, and clear momentum in key growth pillars (Sample Technologies, QIAcuity, QDI) alongside active product launches and capital returns (40% dividend increase, $500M repurchase). Challenges include declines in QIAstat and PCR product groups, China and regional softness, a notable revenue loss from reduced immigration testing (~$35M) affecting QuantiFERON comparisons, modest margin and inventory pressures, and ongoing strategic/leadership transition that creates near-term uncertainty. On balance, the company emphasized confidence in a stronger second half of 2026 driven by new product rollouts and easing comparables.Positive Updates
Beat on Sales and EPS
Net sales of $535 million, unchanged year-over-year and at CER, ahead of outlook for ~2% decline at CER; adjusted diluted EPS of $0.62 (reported and at CER) above outlook of at least $0.60 at CER.
Negative Updates
QIAstat Revenue Decline
QIAstat-Dx sales declined 7% at CER, driven by lower respiratory panel sales against a challenging prior-year comparison despite growth in gastrointestinal and meningitis/encephalitis panels.
Read all updates
Q2-2026 Updates
Positive
Negative
Beat on Sales and EPS
Net sales of $535 million, unchanged year-over-year and at CER, ahead of outlook for ~2% decline at CER; adjusted diluted EPS of $0.62 (reported and at CER) above outlook of at least $0.60 at CER.
Read all positive updates
Company Guidance
Qiagen reaffirmed 2026 guidance: full‑year net sales growth of about 1–2% at constant exchange rates (CER) and adjusted diluted EPS of at least $2.43 at CER, with Q3 guidance of ~1–2% CER sales growth and adjusted diluted EPS of at least $0.62 at CER. Management expects CER growth to accelerate from –1% in H1 to ~3–4% in H2 (a ~4–5 percentage‑point sequential improvement) with ~47% of sales in H1 and ~53% in H2; drivers cited include ~2 percentage points from the removal of NeuMoDx/DIALUNOX headwinds, ~2 percentage points from new Sample Tech systems and launches, and ~0.5 percentage point from Parse and modest U.S. life‑science recovery, while QuantiFERON is being tracked toward a $500 million 2026 target. The outlook already includes a tariff‑repayment benefit of about $0.02 EPS at CER (net of customer refunds), and assumes a ~1 percentage‑point FX tailwind to full‑year sales (neutral on EPS) but a ~1 percentage‑point FX headwind to Q3 sales (neutral on EPS).Qiagen Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.10B | 2.09B | 1.98B | 1.97B | 2.14B | 2.25B |
| Gross Profit | 1.30B | 1.29B | 967.35M | 1.23B | 1.38B | 1.45B |
| EBITDA | 785.39M | 717.27M | 368.26M | 688.55M | 779.36M | 895.24M |
| Net Income | 409.32M | 424.88M | 83.59M | 341.30M | 423.21M | 512.60M |
Balance Sheet | ||||||
| Total Assets | 5.89B | 6.30B | 5.69B | 6.12B | 6.29B | 6.15B |
| Cash, Cash Equivalents and Short-Term Investments | 793.50M | 1.10B | 1.15B | 1.06B | 1.42B | 1.07B |
| Total Debt | 1.64B | 1.65B | 1.61B | 1.69B | 2.03B | 2.12B |
| Total Liabilities | 2.53B | 2.52B | 2.12B | 2.31B | 2.82B | 3.05B |
| Stockholders Equity | 3.36B | 3.78B | 3.57B | 3.81B | 3.47B | 3.10B |
Cash Flow | ||||||
| Free Cash Flow | 447.70M | 453.28M | 506.38M | 296.65M | 565.93M | 432.47M |
| Operating Cash Flow | 654.47M | 654.33M | 673.55M | 459.45M | 715.26M | 639.00M |
| Investing Cash Flow | -242.15M | -305.28M | -249.23M | -87.66M | -726.76M | -202.43M |
| Financing Cash Flow | -376.41M | -178.98M | -422.90M | -433.83M | -125.80M | -150.37M |
Qiagen Technical Analysis
Positive
41.37
Price Trends
39.32
Positive
38.29
Positive
42.64
Positive
Market Momentum
0.92
Negative
69.18
Neutral
70.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QGEN, the sentiment is Positive. The current price of 41.37 is below the 20-day moving average (MA) of 41.62, above the 50-day MA of 39.32, and below the 200-day MA of 42.64, indicating a bullish trend. The MACD of 0.92 indicates Negative momentum. The RSI at 69.18 is Neutral, neither overbought nor oversold. The STOCH value of 70.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $219.63B | 32.21 | 13.35% | 0.32% | 7.23% | 7.47% | |
75 Outperform | $46.22B | 41.84 | 71.96% | ― | 13.08% | 25.40% | |
74 Outperform | $8.72B | 22.49 | 11.28% | 6.38% | 2.96% | 9.52% | |
74 Outperform | $39.29B | 29.77 | 21.95% | ― | 8.22% | 16.68% | |
71 Outperform | $28.38B | 35.45 | 31.08% | ― | 4.97% | -31.78% | |
71 Outperform | $12.79B | 55.25 | 3.27% | 0.25% | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
QGEN
Qiagen
43.85
-3.81
-7.99%
IDXX
Idexx Laboratories
595.76
-56.35
-8.64%
ILMN
Illumina
191.79
97.01
102.35%
RVTY
Revvity
116.02
30.46
35.60%
TMO
Thermo Fisher
599.69
138.98
30.17%
IQV
IQVIA Holdings
241.99
61.90
34.37%
Qiagen Corporate Events
Qiagen Files Form 6-K Detailing 2026 AGM and 2025 Annual Reports
Aug 7, 2026
On June 24, 2026, Qiagen N.V. held its Annual General Meeting of Shareholders in the Netherlands, covering standard governance and reporting matters for the 2025 financial year. The company has now filed a Form 6-K with the U.S. Securities and Exc...
QIAGEN Beats Q2 2026 Guidance, Reaffirms Full-Year Outlook Amid Mixed Demand
Aug 7, 2026
QIAGEN reported second-quarter 2026 results on August 5, 2026, delivering net sales of $535 million, flat year-on-year on both reported and constant-currency bases but ahead of guidance for a decline. Growth pillars, led by Sample technologies, QI...
Qiagen Files U.S. GAAP Quarterly Report for Period Ended June 30, 2026
Aug 7, 2026
Qiagen N.V. has filed a Form 6-K with the U.S. Securities and Exchange Commission for the quarterly period ended June 30, 2026, furnishing its U.S. GAAP quarterly report as an exhibit. The filing, signed by Chief Financial Officer Roland Sackers o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.