Qiagen rises after Q3 beat, profit outlook hike
07/11/2024 07:55
** Frankfurt-listed shares of diagnostics firm Qiagen
QIA.DE rise 2.3% in early Frankfurt trade after
better-than-expected Q3 results, profit outlook hike
** "Another beat and raise," Berenberg says, pointing to "a
very strong Q3 update"
** Sales and earnings were 2% and 6% ahead of Vara consensus
respectively, the broker notes
** Q3 net sales rose 6% to $502 million at constant
exchanges rates (CER), which was above its forecast of at least
$495 million CER
** Qiagen raised its FY adjusted profit forecast to at least
$2.19 CER from $2.10 CER
** "We expect the print to result in low- to
mid-single-digit earnings upgrades to consensus and a strong
open this morning," Berenberg concludes
(Reporting by Linda Pasquini)
((Linda.pasquini@thomsonreuters.com))