QGEN - Embedded Expectations Analysis - 2019 03 08
QIAGEN N.V (QGEN:USA) currently trades near recent highs relative to UAFRS-based (Uniform) Earnings, with a 23.7x Uniform P/E. However, even at these levels, markets have bearish expectations, and management appears concerned about the capabilities of QuantiFERON-TB, new product launch sales targets, and a muted influenza season in Europe.Specifically, management may be exaggerating the capabilities and cost-effectiveness of QuantiFERON-TB as well as cost management success, and may be concerned about their ability to sustain CER growth, particularly in Japan and China. Additionally, they may lack confidence in their ability to meet product launch sales targets, and may be concerned about their investment in digital PCR, their distribution agreement with NeuMoDX, and the progress of QIAstat validations. Finally, they may be concerned about their gastrointestinal panel launch, and the impact of a muted European influenza season.
Qiagen is provider of Sample to Insight solutions to transform biological materials into valuable molecular insights. Co.'s sample technologies process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software interprets data. Automation solutions unite these together in molecular testing workflows. Co. provides these workflows to four classes: Molecular Diagnostics (human healthcare), Applied Testing (forensics, veterinary testing and food safety), Pharma (pharmaceutical and biotechnology companies) and Academia (life sciences research). Co. markets its products in more than 130 countries.
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