Intrinsic value of Qiagen - QGEN

Previous Close

$36.92

  Intrinsic Value

$24.14

stock screener

  Rating & Target

sell

-35%

Previous close

$36.92

 
Intrinsic value

$24.14

 
Up/down potential

-35%

 
Rating

sell

We calculate the intrinsic value of QGEN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.45
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.31
  5.28
  5.25
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
Revenue, $m
  1,338
  1,503
  1,592
  1,684
  1,781
  1,881
  1,987
  2,097
  2,211
  2,331
  2,457
  2,588
  2,726
  2,870
  3,021
  3,179
  3,344
  3,518
  3,699
  3,890
  4,090
  4,299
  4,519
  4,749
  4,991
  5,244
  5,510
  5,789
  6,082
  6,390
  6,712
Variable operating expenses, $m
 
  455
  467
  480
  493
  507
  521
  536
  552
  568
  585
  352
  370
  390
  410
  432
  454
  478
  503
  528
  556
  584
  614
  645
  678
  712
  749
  786
  826
  868
  912
Fixed operating expenses, $m
 
  856
  875
  895
  914
  934
  955
  976
  997
  1,019
  1,042
  1,065
  1,088
  1,112
  1,136
  1,161
  1,187
  1,213
  1,240
  1,267
  1,295
  1,323
  1,353
  1,382
  1,413
  1,444
  1,476
  1,508
  1,541
  1,575
  1,610
Total operating expenses, $m
  1,239
  1,311
  1,342
  1,375
  1,407
  1,441
  1,476
  1,512
  1,549
  1,587
  1,627
  1,417
  1,458
  1,502
  1,546
  1,593
  1,641
  1,691
  1,743
  1,795
  1,851
  1,907
  1,967
  2,027
  2,091
  2,156
  2,225
  2,294
  2,367
  2,443
  2,522
Operating income, $m
  99
  191
  249
  310
  373
  440
  511
  585
  662
  744
  830
  1,172
  1,268
  1,368
  1,474
  1,585
  1,703
  1,827
  1,957
  2,094
  2,239
  2,392
  2,552
  2,722
  2,900
  3,088
  3,286
  3,495
  3,715
  3,946
  4,190
EBITDA, $m
  312
  757
  833
  913
  997
  1,085
  1,177
  1,274
  1,376
  1,483
  1,595
  1,713
  1,837
  1,968
  2,105
  2,250
  2,402
  2,562
  2,730
  2,907
  3,094
  3,290
  3,497
  3,714
  3,943
  4,184
  4,438
  4,705
  4,986
  5,282
  5,593
Interest expense (income), $m
  18
  95
  103
  112
  120
  130
  139
  149
  160
  171
  182
  194
  207
  220
  233
  248
  263
  279
  295
  312
  331
  350
  370
  390
  412
  435
  460
  485
  512
  539
  569
Earnings before tax, $m
  57
  96
  146
  198
  253
  311
  371
  435
  503
  574
  648
  978
  1,061
  1,148
  1,241
  1,338
  1,440
  1,548
  1,662
  1,782
  1,909
  2,042
  2,183
  2,331
  2,488
  2,653
  2,827
  3,010
  3,203
  3,407
  3,622
Tax expense, $m
  -23
  26
  39
  53
  68
  84
  100
  118
  136
  155
  175
  264
  286
  310
  335
  361
  389
  418
  449
  481
  515
  551
  589
  629
  672
  716
  763
  813
  865
  920
  978
Net income, $m
  80
  70
  106
  145
  185
  227
  271
  318
  367
  419
  473
  714
  775
  838
  906
  977
  1,051
  1,130
  1,213
  1,301
  1,393
  1,491
  1,593
  1,702
  1,816
  1,936
  2,063
  2,197
  2,338
  2,487
  2,644

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  532
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,308
  4,611
  4,883
  5,166
  5,462
  5,771
  6,094
  6,431
  6,783
  7,152
  7,537
  7,940
  8,362
  8,804
  9,266
  9,751
  10,259
  10,790
  11,348
  11,932
  12,545
  13,188
  13,861
  14,568
  15,310
  16,087
  16,903
  17,759
  18,657
  19,600
  20,589
Adjusted assets (=assets-cash), $m
  3,776
  4,611
  4,883
  5,166
  5,462
  5,771
  6,094
  6,431
  6,783
  7,152
  7,537
  7,940
  8,362
  8,804
  9,266
  9,751
  10,259
  10,790
  11,348
  11,932
  12,545
  13,188
  13,861
  14,568
  15,310
  16,087
  16,903
  17,759
  18,657
  19,600
  20,589
Revenue / Adjusted assets
  0.354
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
Average production assets, $m
  1,037
  3,141
  3,327
  3,520
  3,722
  3,932
  4,152
  4,382
  4,622
  4,873
  5,135
  5,410
  5,697
  5,998
  6,314
  6,644
  6,990
  7,352
  7,732
  8,130
  8,548
  8,985
  9,444
  9,926
  10,431
  10,961
  11,517
  12,100
  12,712
  13,354
  14,028
Working capital, $m
  730
  102
  108
  115
  121
  128
  135
  143
  150
  159
  167
  176
  185
  195
  205
  216
  227
  239
  252
  265
  278
  292
  307
  323
  339
  357
  375
  394
  414
  434
  456
Total debt, $m
  1,068
  1,912
  2,068
  2,231
  2,402
  2,579
  2,765
  2,959
  3,161
  3,373
  3,595
  3,826
  4,069
  4,323
  4,589
  4,868
  5,159
  5,465
  5,786
  6,122
  6,474
  6,844
  7,231
  7,637
  8,064
  8,511
  8,980
  9,472
  9,989
  10,531
  11,100
Total liabilities, $m
  1,701
  2,651
  2,808
  2,971
  3,141
  3,319
  3,504
  3,698
  3,900
  4,112
  4,334
  4,566
  4,808
  5,062
  5,328
  5,607
  5,899
  6,205
  6,525
  6,861
  7,213
  7,583
  7,970
  8,377
  8,803
  9,250
  9,719
  10,212
  10,728
  11,270
  11,839
Total equity, $m
  2,607
  1,960
  2,075
  2,196
  2,322
  2,453
  2,590
  2,733
  2,883
  3,039
  3,203
  3,375
  3,554
  3,742
  3,938
  4,144
  4,360
  4,586
  4,823
  5,071
  5,332
  5,605
  5,891
  6,191
  6,507
  6,837
  7,184
  7,548
  7,929
  8,330
  8,750
Total liabilities and equity, $m
  4,308
  4,611
  4,883
  5,167
  5,463
  5,772
  6,094
  6,431
  6,783
  7,151
  7,537
  7,941
  8,362
  8,804
  9,266
  9,751
  10,259
  10,791
  11,348
  11,932
  12,545
  13,188
  13,861
  14,568
  15,310
  16,087
  16,903
  17,760
  18,657
  19,600
  20,589
Debt-to-equity ratio
  0.410
  0.980
  1.000
  1.020
  1.030
  1.050
  1.070
  1.080
  1.100
  1.110
  1.120
  1.130
  1.140
  1.160
  1.170
  1.170
  1.180
  1.190
  1.200
  1.210
  1.210
  1.220
  1.230
  1.230
  1.240
  1.240
  1.250
  1.250
  1.260
  1.260
  1.270
Adjusted equity ratio
  0.550
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  80
  70
  106
  145
  185
  227
  271
  318
  367
  419
  473
  714
  775
  838
  906
  977
  1,051
  1,130
  1,213
  1,301
  1,393
  1,491
  1,593
  1,702
  1,816
  1,936
  2,063
  2,197
  2,338
  2,487
  2,644
Depreciation, amort., depletion, $m
  213
  565
  584
  603
  623
  644
  666
  689
  713
  738
  765
  541
  570
  600
  631
  664
  699
  735
  773
  813
  855
  899
  944
  993
  1,043
  1,096
  1,152
  1,210
  1,271
  1,335
  1,403
Funds from operations, $m
  352
  636
  690
  748
  808
  871
  938
  1,007
  1,080
  1,157
  1,238
  1,255
  1,344
  1,438
  1,537
  1,641
  1,750
  1,865
  1,986
  2,114
  2,248
  2,389
  2,538
  2,694
  2,859
  3,033
  3,215
  3,407
  3,610
  3,823
  4,047
Change in working capital, $m
  10
  6
  6
  6
  7
  7
  7
  7
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
Cash from operations, $m
  342
  630
  684
  741
  801
  864
  930
  1,000
  1,072
  1,149
  1,229
  1,246
  1,335
  1,428
  1,527
  1,630
  1,739
  1,853
  1,974
  2,101
  2,234
  2,375
  2,523
  2,679
  2,843
  3,015
  3,197
  3,388
  3,590
  3,802
  4,025
Maintenance CAPEX, $m
  0
  -296
  -314
  -333
  -352
  -372
  -393
  -415
  -438
  -462
  -487
  -514
  -541
  -570
  -600
  -631
  -664
  -699
  -735
  -773
  -813
  -855
  -899
  -944
  -993
  -1,043
  -1,096
  -1,152
  -1,210
  -1,271
  -1,335
New CAPEX, $m
  -94
  -178
  -185
  -193
  -202
  -211
  -220
  -230
  -240
  -251
  -263
  -275
  -287
  -301
  -315
  -330
  -346
  -362
  -380
  -398
  -417
  -438
  -459
  -482
  -505
  -530
  -556
  -583
  -612
  -642
  -674
Cash from investing activities, $m
  -179
  -474
  -499
  -526
  -554
  -583
  -613
  -645
  -678
  -713
  -750
  -789
  -828
  -871
  -915
  -961
  -1,010
  -1,061
  -1,115
  -1,171
  -1,230
  -1,293
  -1,358
  -1,426
  -1,498
  -1,573
  -1,652
  -1,735
  -1,822
  -1,913
  -2,009
Free cash flow, $m
  163
  155
  185
  216
  248
  282
  317
  355
  394
  436
  480
  458
  506
  558
  612
  669
  729
  792
  859
  930
  1,004
  1,082
  1,165
  1,253
  1,345
  1,442
  1,545
  1,653
  1,768
  1,888
  2,015
Issuance/(repayment) of debt, $m
  -8
  154
  156
  163
  170
  178
  186
  194
  203
  212
  222
  232
  243
  254
  266
  279
  292
  306
  321
  336
  352
  369
  387
  406
  426
  447
  469
  492
  517
  542
  569
Issuance/(repurchase) of shares, $m
  6
  40
  9
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -11
  194
  165
  163
  170
  178
  186
  194
  203
  212
  222
  232
  243
  254
  266
  279
  292
  306
  321
  336
  352
  369
  387
  406
  426
  447
  469
  492
  517
  542
  569
Total cash flow (excl. dividends), $m
  149
  349
  350
  379
  418
  459
  503
  549
  597
  648
  701
  690
  749
  812
  878
  947
  1,021
  1,098
  1,180
  1,266
  1,356
  1,452
  1,553
  1,659
  1,771
  1,890
  2,014
  2,146
  2,284
  2,430
  2,584
Retained Cash Flow (-), $m
  -41
  -111
  -116
  -121
  -126
  -131
  -137
  -143
  -150
  -157
  -164
  -171
  -179
  -188
  -197
  -206
  -216
  -226
  -237
  -248
  -260
  -273
  -286
  -300
  -315
  -331
  -347
  -364
  -382
  -401
  -420
Prev. year cash balance distribution, $m
 
  692
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  34
  36
  38
  40
  43
  45
  48
  50
  53
  56
  59
  62
  65
  69
  73
  76
  80
  84
  89
  93
  98
  103
  108
  114
  120
  126
  132
  139
  146
  153
Cash available for distribution, $m
 
  931
  235
  258
  292
  328
  366
  405
  447
  491
  537
  518
  570
  624
  681
  741
  805
  872
  943
  1,017
  1,096
  1,179
  1,266
  1,359
  1,456
  1,559
  1,667
  1,782
  1,902
  2,030
  2,164
Discount rate, %
 
  4.60
  4.83
  5.07
  5.33
  5.59
  5.87
  6.16
  6.47
  6.80
  7.14
  7.49
  7.87
  8.26
  8.67
  9.11
  9.56
  10.04
  10.54
  11.07
  11.62
  12.21
  12.82
  13.46
  14.13
  14.84
  15.58
  16.36
  17.17
  18.03
  18.93
PV of cash for distribution, $m
 
  890
  214
  222
  237
  250
  260
  267
  271
  272
  270
  234
  230
  222
  213
  201
  187
  171
  155
  138
  122
  105
  89
  74
  61
  49
  39
  30
  22
  17
  12
Current shareholders' claim on cash, %
  100
  99.3
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2
  99.2

QIAGEN N.V. (QIAGEN) is a holding company. The Company is engaged in providing Sample to Insight solutions that transform biological samples into molecular insights. Its Sample to Insight solutions integrate sample and assay technologies, bioinformatics and automation systems. Its sample technologies are used for isolating and preparing deoxyribonucleic acid (DNA), ribonucleic acid (RNA) and proteins from blood or other liquids, tissue, plants or other materials. Its assay technologies make these biomolecules visible for analysis, such as identifying the genetic information of a pathogen or a gene mutation in a tumor. Its bioinformatics solutions interpret data to provide actionable insights. The Company's automation platforms based on polymerase chain reaction (PCR), next-generation sequencing (NGS) and other technologies tie these together in molecular testing workflows from Sample to Insight.

FINANCIAL RATIOS  of  Qiagen (QGEN)

Valuation Ratios
P/E Ratio 104.2
Price to Sales 6.2
Price to Book 3.2
Price to Tangible Book
Price to Cash Flow 24.4
Price to Free Cash Flow 33.6
Growth Rates
Sales Growth Rate 4.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -19.7%
Cap. Spend. - 3 Yr. Gr. Rate -4.6%
Financial Strength
Quick Ratio 532
Current Ratio 0
LT Debt to Equity 40.9%
Total Debt to Equity 41%
Interest Coverage 4
Management Effectiveness
Return On Assets 2.5%
Ret/ On Assets - 3 Yr. Avg. 3.1%
Return On Total Capital 2.2%
Ret/ On T. Cap. - 3 Yr. Avg. 3%
Return On Equity 3.1%
Return On Equity - 3 Yr. Avg. 4.1%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 63.2%
Gross Margin - 3 Yr. Avg. 64.7%
EBITDA Margin 21.5%
EBITDA Margin - 3 Yr. Avg. 24.8%
Operating Margin 7.4%
Oper. Margin - 3 Yr. Avg. 11.1%
Pre-Tax Margin 4.3%
Pre-Tax Margin - 3 Yr. Avg. 7.9%
Net Profit Margin 6%
Net Profit Margin - 3 Yr. Avg. 8.3%
Effective Tax Rate -40.4%
Eff/ Tax Rate - 3 Yr. Avg. -11.4%
Payout Ratio 0%

QGEN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the QGEN stock intrinsic value calculation we used $1418 million for the last fiscal year's total revenue generated by Qiagen. The default revenue input number comes from 2016 income statement of Qiagen. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our QGEN stock valuation model: a) initial revenue growth rate of 6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.6%, whose default value for QGEN is calculated based on our internal credit rating of Qiagen, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Qiagen.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of QGEN stock the variable cost ratio is equal to 31.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $838 million in the base year in the intrinsic value calculation for QGEN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Qiagen.

Corporate tax rate of 27% is the nominal tax rate for Qiagen. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the QGEN stock is equal to 2.4%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for QGEN are equal to 209%.

Life of production assets of 10 years is the average useful life of capital assets used in Qiagen operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for QGEN is equal to 6.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2541 million for Qiagen - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 228 million for Qiagen is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Qiagen at the current share price and the inputted number of shares is $8.4 billion.

RELATED COMPANIES Price Int.Val. Rating
TMO Thermo Fisher 216.85 95.38  str.sell
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GNMK GenMark Diagno 6.75 0.33  str.sell
GHDX Genomic Health 57.34 11.72  str.sell
ILMN Illumina 311.15 97.02  str.sell
FMI Foundation Med 136.95 0.22  str.sell

COMPANY NEWS

▶ IBD Rating Upgrades: Qiagen Flashes Improved Relative Price Strength   [May-24-18 03:00AM  Investor's Business Daily]
▶ Qiagen Starts Slowly but Is On Track   [May-07-18 05:52PM  Motley Fool]
▶ Qiagen: 1Q Earnings Snapshot   [May-02-18 07:19PM  Associated Press]
▶ QIAGEN Announces FDA Approval of PartoSureTM   [Apr-20-18 02:00AM  Business Wire]
▶ QIAGEN N.V. to Report First Quarter 2018 Results   [Apr-17-18 07:52AM  Business Wire]
▶ QIAGENs QuantiFERON-TB Gold Plus gains approval in Japan   [Feb-08-18 04:05PM  Business Wire]
▶ Qiagen reports 4Q loss   [05:02AM  Associated Press]
▶ Should You Buy QIAGEN NV (NYSE:QGEN) Now?   [07:09AM  Simply Wall St.]
▶ QIAGEN to Transfer U.S. Listing of Global Shares to NYSE   [Dec-08-17 04:05PM  PR Newswire]
▶ Qiagen meets 3Q profit forecasts   [Nov-06-17 05:44PM  Associated Press]
▶ Should You Sell QIAGEN (QGEN) Before Earnings?   [Nov-03-17 08:36AM  Zacks]
▶ ETFs with exposure to QIAGEN NV : November 2, 2017   [Nov-02-17 12:30PM  Capital Cube]
▶ Stocks With Rising Relative Strength: Qiagen   [03:00AM  Investor's Business Daily]
▶ Qiagen Shows Improved Relative Price Performance; Still Shy Of Benchmark   [Oct-30-17 03:00AM  Investor's Business Daily]
▶ Qiagen Shows Improved Relative Strength; Still Shy Of Benchmark   [Oct-26-17 03:00AM  Investor's Business Daily]
Financial statements of QGEN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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