Healthcare stock to watch: Qiagen NV (NYSE: QGEN)

Free $100 Forex No-Deposit Bonus

Qiagen NV (NYSE: QGEN) stock rose over 6.7% on 5th Feb, 2020 (as of 10:58 am GMT-5; Source: Google finance) though the company posted better than expected results for the fourth quarter of FY 19. period. The Americas and Europe / Middle East / Africa regions posted the growth at solid single-digit CER rates, while the Asia-Pacific / Japan region declined 4% CER due to an ongoing decline in China, mainly on the back of a slowdown in orders from distributors and the end of the China NGS joint venture, and weaker sales trends in Japan. The company has reported the adjusted net income rose of $110.1 million, from $93.7 million in the prior-year quarter. At December 31, 2019, cash, cash equivalents and restricted cash were $629.4 million compared to $1.16 billion at December 31, 2018.

QGEN in the fourth quarter of FY 19 has reported the adjusted earnings per share of 48 cents, beating the analysts’ estimates for the adjusted earnings per share of 44 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 3 percent to $413.47 billion in the fourth quarter of FY 19, beating the analysts’ estimates for revenue by 1.12%. The acquisition of N-of-One (acquired in January 2019) has contributed revenues of about $1 million in the fourth quarter of 2019.

Molecular Diagnostics that formed 48% of sales, growth was fueled by double-digit CER gains in consumables for use in universal NGS applications, along with solid gains in consumables used for Precision Medicine and companion diagnostics. Sales of the QuantiFERON-TB test grew 1% CER on a combined high-single-digit CER growth rate in the Americas and EMEA regions but lower sales in Asia, particularly due to China and Japan. The revenues from companion diagnostic co-development projects  declined sharply due to the decision to end companion diagnostic projects based on the GeneReader system on the back of the new clinical NGS agreement with Illumina announced in October 2019. The sales in Life Sciences increased due to good CER gains in consumables and related revenues, in particular from the universal NGS portfolio, the QIAcube Connect instrument and QIAGEN Digital Insights as well as the Americas region, which more than offset lower instrument sales. Pharma growth was driven by high-single-digit CER growth in the Americas and Asia-Pacific / Japan regions, while Academia / Applied Testing showed solid growth trends in the Americas, in particular the U.S., compared to a softer performance in the EMEA region.

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.