Qiagen Earnings: Strong Postpandemic Diagnostics Results Help Growth Start to Normalize

Qiagen's strong third-quarter results exceeded expectations, and we've mildly raised our 2024 assumptions, although not enough to change our fair value estimate, which is based on much longer-term expectations. Also, while we still give Qiagen a no-moat rating, we recognize that operations have improved substantially in recent years even beyond the pandemic, and we expect Qiagen to remain economically profitable for the foreseeable future.