Diagnostic Firm Qiagen's Q3 Earnings: Analyst Says Annual Projections Attainable Despite Macro Trends
Portfolio Pulse from Vandana Singh
Qiagen NV's Q3 2023 net sales were above the outlook, driven by 5% growth in the non-COVID-19 portfolio. However, overall sales declined 5% from Q3 2022 due to significant COVID-19 sales contributions. The company affirmed its guidance for 2023 net sales of at least $1.97 billion, driven by solid consumables demand. William Blair believes these projections are attainable, considering the sustained robust demand amidst a complex macroeconomic landscape. QGEN shares are up 5.25% at $37.42.
October 31, 2023 | 5:38 pm
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Qiagen's Q3 2023 net sales exceeded expectations, driven by growth in the non-COVID-19 portfolio. The company reaffirmed its 2023 net sales guidance, which William Blair believes is achievable. QGEN shares rose 5.25%.
Qiagen's Q3 2023 net sales exceeded expectations, primarily due to growth in the non-COVID-19 portfolio. This positive performance, along with the company's reaffirmed 2023 net sales guidance, likely contributed to the rise in QGEN shares. The positive assessment from William Blair further supports the potential for continued positive performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100