Shares of Qiagen N.V. (NYSE:QGEN) gained 3.2%, while shares of Bio-Rad Laboratories (NYSE:BIO) were down 8.4% yesterday. The share price movement was followed by a Wall Street Journal news report that said both companies could potentially merge in a deal worth $10 billion approximately.
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Based in the Netherlands, QIAGEN NV is a holding company that provides sample and assay technology to transform biological samples into valuable molecular insights.
Based in the U.S., Bio-Rad Laboratories, Inc. engages in the development and production of specialty chemicals used in biochemical, pharmaceutical, and other life science research applications.
The onset of the COVID-19 pandemic has spurred the demand for testing and boosted the medical-diagnostic industry. If the deal comes through, it will mark one of the biggest acquisitions made in the healthcare space in the recent past.
While there is no certainty that the deal will materialize, it may take some more weeks if it does get finalized. Meanwhile, higher interest rates as well as soured debt markets could act as an impediment to the deal.
Is Qiagen Stock a Buy, Sell or Hold?
As per TipRanks, analysts are cautiously optimistic about the QGEN stock and have a Moderate Buy consensus rating, which is based on four Buys and four Holds. Qiagen stock’s average price forecast of $50.25 implies 14.6% upside potential.
Further, TipRanks data shows that financial blogger opinions are 100% Bullish on Qiagen, compared to a sector average of 71%.
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