Qiagen Rises as Profit Forecast Tops Estimates

Qiagen NV (QGEN), a maker of medical diagnostic equipment, increased to its highest value in two-and- a-half years after forecasting 2013 profit that exceeded analysts’ estimates.

Qiagen climbed 6.8 percent to 15.66 euros in Frankfurt, the highest closing price since July 15, 2010, giving the company a market value of 3.6 billion euros ($4.9 billion).

Adjusted earnings this year will rise to about $1.16 to $1.18 a share, Qiagen said in a statement late yesterday. Analysts had predicted profit of $1.12, the average of 31 estimates compiled by Bloomberg.

Qiagen is based in Venlo, the Netherlands, with management offices in Hilden, Germany.

To contact the reporter on this story: Simeon Bennett in Geneva at sbennett9@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net

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