By Helena Smolak
Qiagen raised its earnings outlook for the year after higher first-quarter sales, sending shares higher despite a broader market decline.
In European morning trade, shares of Qiagen are up 1.8% at 35.95 euros, having risen as much as 2.4% earlier in the session. This is against the Stoxx Europe 600 Health Care index and broader Stoxx Europe 600 having fallen 4% and 4.8%, respectively. Qiagen's stock is down 16.5% in the year to date.
The Netherlands-based life science company said Sunday that it now expects adjusted earnings per share to be around $2.35 for 2025, from previous guidance of $2.28.
The company forecasts its adjusted operating income margin to be above 30% for the year, and expects to hit its midterm target of at least 31% much earlier than 2028, as previously anticipated.
The company said its outlook includes current business trends, such as headwinds from recently announced U.S. import tariffs but a better-than-expected tax environment.
Qiagen's net sales grew 5%, or 7% at constant exchange rates, to $483 million in the first quarter on higher demand for its gastrointestinal and meningitis testing.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
April 07, 2025 06:22 ET (10:22 GMT)
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