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Qiagen stock popped in bullish volume Thursday on a report medical technology giant Thermo Fisher Scientific could buy it for $8 billion. It would be one of Thermo Fisher's biggest buys.
The swing to a bullish rating for Qiagen follows “our recent buy-side survey, two new product surveys, and valuation analysis,” Peterson said in the upgrade note. Barring this, there seems to be potential for the company’s new management team to reset the bar and capitalize on portfolio rationalization and cost reduction opportunities, Peterson mentioned.
Shares of Qiagen N.V. surged 3.3% in premarket trading Thursday, after J.P. Morgan analyst Tycho Peterson swung to bullish from bearish on the Netherlands-based molecular testing company, citing expectations that company's turnaround will continue. The upgrade comes a day after the stock surged 9.9% after a Bloomberg report that Massachusetts-based analysis and diagnostics company Thermo Fisher Scientific Inc. was considering a buyout of Qiagen, which had a market capitalization of $8.03 billion as of Wednesday's close. J.P. Morgan's Peterson upgraded Qiagen to overweight from underweight and boosted his price target to $40 from $25. "Barring a near-term takeout..., we see potential for new management to reset the bar and pursue abundant opportunities for portfolio rationalization and cost reduction, and therefore we think the worst is in the rearview for [Qiagen]," Peterson wrote in a note to clients. The stock has run up 40% since closing at a 3-year low on Oct. 8 through Wednesday, while the S&P 500 has gained 6.9% over the same time.
(Bloomberg) -- Qiagen NV shares jumped the most in 17 years after people with knowledge of the matter said Thermo Fisher Scientific Inc. is considering a takeover of the molecular testing firm.Thermo Fisher has approached the Dutch company about a potential purchase that could become one of its biggest-ever acquisitions, the people said, asking not to be identified because the information is private. Shares of Qiagen rose 13% to 33.20 euros at 1:10 p.m. in Frankfurt, giving it a market value of $8.3 billion. There’s no certainty the deliberations will lead to a transaction, and other bidders for Qiagen could emerge, the people said. Thermo Fisher shares rose 1.4% to $300.02 at the close of New York trading on Wednesday, valuing it at more than $120 billion.The potential transaction could become one of Thermo Fisher’s largest purchases, surpassing its $5 billion takeover of drug-ingredient maker Patheon NV in 2017, according to data compiled by Bloomberg. Its largest acquisition was its $15 billion purchase of Life Technologies Corp. in 2014, the data show.Deal PipelineQiagen spokesman Thomas Theuringer declined to comment, citing company policy. The company serves doctors, researchers and others with molecular-testing platforms that can extract and analyze people’s DNA and RNA. The company emerged from university research and has grown in recent years amid the boom in genetic testing.Representatives for Thermo Fisher, based in Waltham, Massachusetts, couldn’t immediately comment.U.K. scientific measurement testing company LGC Group also has attracted sale interest. The private equity firm Cinven has teamed up with the Abu Dhabi Investment Authority to weigh a joint bid for the KKR & Co.-backed company, people familiar with the matter have said.Leadership ChangeThermo Fisher Chief Executive Officer Marc Casper told analysts last month he feels “great” about the company’s mergers and acquisitions pipeline, which “continues to be very active.”Qiagen CEO Peer Schatz announced last month that he will step down after 27 years at the company, saying it’s time to bring in new leadership. Senior Vice President Thierry Bernard will act as interim CEO until a permanent successor is found. The company also cut its quarterly estimate for sales growth, sending its shares plunging the most in 17 years.Top medical device makers have the capacity to take on additional debt to finance acquisitions, according to Bloomberg Intelligence. Last year, Thermo Fisher rival Medtronic Plc agreed to buy the shares it doesn’t already own in Mazor Robotics Ltd. in a deal valuing the company at about $1.6 billion.(Updates share move in first two paragraphs.)\--With assistance from Aaron Kirchfeld and Tim Loh.To contact the reporters on this story: Ed Hammond in New York at firstname.lastname@example.org;Dinesh Nair in London at email@example.com;Nabila Ahmed in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Scent at email@example.com, ;Liana Baker at firstname.lastname@example.org, Eric PfannerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
European stocks slipped on Thursday on concern over the state of U.S.-China trade talks as data showed a stagnating economy in Germany.
Qiagen rises following a report that says Thermo Fisher Scientific is considering a purchase of the Dutch molecular-testing company.
SAN FRANCISCO, Nov. 13, 2019 -- Hagens Berman urges Qiagen N.V. (NYSE: QGEN) investors who have suffered significant losses to submit their losses now or contact the firm.
NEW YORK, Nov. 12, 2019 -- Levi & Korsinsky reminds investors that it has commenced an investigation of QIAGEN N.V. (“QIAGEN” or “the Company”) (NYSE: QGEN) concerning.
Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Qiagen N.V. resulting from allegations that Qiagen may have issued materially misleading business information to the investing public.
NEW YORK,, Nov. 06, 2019 -- Levi & Korsinsky reminds investors that it has commenced an investigation of QIAGEN N.V. (“QIAGEN” or “the Company”) (NYSE: QGEN) concerning.
HILDEN, Germany & GERMANTOWN, Md.-- -- QIAseq ® Multimodal Panels streamline simultaneous DNA and RNA sequencing for comprehensive solid and liquid tumor profiling Only solution to extract, enrich and sequence DNA variants and RNA fusions and assess gene expression in a single workflow from a single sample within a single day QIAGEN to highlight extensive Sample to Insight portfolio for clinical laboratories ...
HILDEN, Germany & GERMANTOWN, Md.-- -- Collaborates with Repertoire Genesis for access to T-cell /B-cell receptor repertoire assays for clinical next-generation sequencing Acquires licensing rights for epigenomic immune checkpoint inhibitor biomarkers developed by researchers from the University of Bonn Receives exclusive license to novel mRNA gene expression signatures from STRATIFYER Molecular Pathology ...
Qiagen (QGEN) delivered earnings and revenue surprises of 2.86% and -0.26%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
HILDEN, Germany & GERMANTOWN, Md.-- -- QIAGEN expands market for gold standard latent TB test to help developing countries fight TB WHO-endorsed test to support communities with the highest need First demonstration of QuantiFERON ® -TB Access at the Union World meeting in India QIAGEN N.V. today announced that its QuantiFERON ® -TB Gold Plus has been added to the diagnostic catalog of the Stop TB Partnership’s ...
LOS ANGELES, CA / ACCESSWIRE / October 24, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Qiagen N.V. ("Qiagen" or "the Company") (NYSE:QGEN) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Qiagen disclosed on October 7, 2019, that its quarterly results would be far below estimates and also announced the immediate resignation of Chairman and CEO Peer M. Schatz after 27 years with the Company.
Class-action law firm urges QGEN investors who have suffered significant losses to submit your loss now to learn if they qualify to recover their investment losses SAN FRANCISCO, CA / ACCESSWIRE / October ...
LOS ANGELES, CA / ACCESSWIRE / October 23, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Qiagen N.V. ("Qiagen" or "the Company") (NYSE:QGEN) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Qiagen disclosed on October 7, 2019, that its quarterly results would be far below estimates and also announced the immediate resignation of Chairman and CEO Peer M. Schatz after 27 years with the Company.
Qiagen (QGEN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
NEW YORK, Oct. 22, 2019 -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against HEXO Corp. (NYSE: HEXO),.