Analyst Note| Julie Utterback, CFA |
Qiagen turned in fourth-quarter results that continued well above its historical growth trajectory based on increased demand for its products to combat the pandemic. The company also maintained its 2021 guidance that was originally given at its investor day in December. That strong outlook caused us to raise our fair value estimate in late 2020, and this outlook confirmation does not materially change our view of the firm. Also, similar to many companies in life sciences that have seen a boost from COVID-19-related demand, we continue to view Qiagen's stock as rich.