reports
- Michael Waterhouse
Growth Initiatives Help Improve Qiagen’s Outlook
While no-moat Qiagen’s first-quarter results mostly lived up to our expectations, we anticipate a moderate increase to our fair value estimate as we reevaluate some of our longer-term assumptions. Despite somewhat better-than-expected performance for the quarter, management maintained its outlook for the year. While we still think Illumina’s GeneReader genome sequencing instrument and its upcoming launch of the QIAstat-Dx multiplex PCR machine face uphill battles versus more entrenched compe...
- Michael Waterhouse
Qiagen’s Performance Matches Our Expectations as Management Seeks Gr...
Qiagen continues to report performance within our expectations. While we appreciate management’s efforts to streamline the business and focus on higher-growth markets, we don’t anticipate any dramatic changes to our fair value estimate or no-moat rating at this time. Fourth-quarter constant-currency revenue grew 6% for the quarter, while currency benefits offered a considerable lift to reported growth. Similarly, management’s constant-currency outlook for 2018 includes 6%-7% revenue growt...
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