- #QIAGEN CLC GENOMICS WORKBENCH PRICE DRIVER#
- #QIAGEN CLC GENOMICS WORKBENCH PRICE SKIN#
- #QIAGEN CLC GENOMICS WORKBENCH PRICE SERIES#
#QIAGEN CLC GENOMICS WORKBENCH PRICE SERIES#
Total debt at the end of the fourth quarter was much higher than the quarter-end cash and cash equivalent and short-term investments level, indicating a weak solvency position.Ī series of current macroeconomic issues, including supply chain disruptions, energy needs and rising inflation, continue to hamper the company’s performance. Sales in China declined by about 7% in the fourth quarter.Įscalating costs and the contraction of gross margin operating margin are concerns. Revenues from Asia-Pacific/Japan fell 16% year over year on a reported basis. In the quarter under review, revenues from Europe, the Middle East and Africa fell 23%, reportedly due to the sharp decline in COVID testing trends. QIAGEN currently markets products in more than 100 countries. The massive decline in COVID-19 product sales and severe foreign exchange headwind impacted overall performance. On the flip side, in the fourth quarter of 2022, on a year-over-year basis, earnings and sales both declined. The same month, QIAGEN announced an enhanced QIAGEN CLC Genomics Workbench Premium that removes the data-analysis bottleneck of next-generation sequencing by adding game-changing speed to analyze and interpret whole genome sequencing, whole exome sequencing and large panel sequencing data. This makes the in-vitro devices (IVD) platform for automated sample processing available for widescale use 18 months after being made available for research. In January 2023, QIAGEN launched EZ2 Connect MDx for use in diagnostic laboratories. QIAGEN is progressing well with its testing menu expansion strategy. In terms of QIAstat-Dx, the company continued to witness increased demand for system placements and growing consumables usage around the world. Sales of QuantiFERON TB test rose 15% at CER in the fourth quarter on double-digit gains in all regions.
#QIAGEN CLC GENOMICS WORKBENCH PRICE DRIVER#
The key driver of the growth was the QuantiFERON franchise. Molecular diagnostic solutions contributed about 30% to sales in the fourth quarter of 2022.
#QIAGEN CLC GENOMICS WORKBENCH PRICE SKIN#
Further, QuantiFERON-TB also registered a solid double-digit CER growth in 2022, led by continued conversion of the latent TB market from the traditional skin test. The QIAcuity digital PCR system delivered solid double-digit CER growth for fiscal 2022, supported by the launch of new assays for biopharma applications. The ongoing double-digit sales growth in the non-COVID product portfolio, a high level of profitability and strong cash flow are the major upsides. QIAGEN ended fourth-quarter 2022 with better-than-expected earnings and revenues. The stock has gained 3.1% compared with the industry’s 0.6% rise. In the past six months, QIAGEN has outperformed the industry it belongs to. The stock carries a Zacks Rank #3 (Hold). Yet, tough competitive landscape and foreign exchange headwinds are major downsides. QIAGEN’s QGEN business is expected to get a boost from its growing molecular diagnostic market and expanded test menu.
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