Qiagen Earnings: No Fair Value Estimate Change as Reset Period Continues About as Expected

Qiagen's first-quarter results mildly exceeded expectations, and our assumptions for 2024 remain within management's maintained guidance ranges for the full year. At first glance, we are maintaining our fair value estimate. Also, while our no-moat rating is intact, we recognize that Qiagen's operations have improved substantially in recent years, even when excluding pandemic-related demand, and we expect Qiagen to remain economically profitable throughout our five-year forecast period.