NEW YORK (TheStreet) -- Shares of Qiagen (QGEN) - Get Report are spiking 11.67% to $26.17 on heavy trading volume late Friday morning after the company reported better-than-anticipated results for the 2016 second quarter.
After yesterday's closing bell, the Netherlands-based molecular diagnostics company posted adjusted earnings of 24 cents per share, beating analysts' expectations by a penny.
Revenue for the quarter was $334.4 million, topping analysts' estimates of $326.8 million.
Additionally, the company said it is on track for continued acceleration in the second half of the year and achieving targets for full-year growth in net sales and adjusted earnings per share.
About 2 million of the company's shares were traded so far today vs. its average volume of 1.16 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity.
But the team also finds weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: QGEN