Disappointing Preliminary Earnings from Quest Diagnostics Trickles Down to Qiagen

ISI analyst Vijay Kumar reported Qiagen N. V. (NASDAQ: QGEN) may have repercussions from reimbursements from coding changes issues.

Qiagen short interest rose to a 2-Year high before the third quarter. Kumar noted that Quest Diagnostics Inc. (NYSE: DGX) preliminary earnings are taking a hit due to increased diagnostic coverage denial, missing 3Q estimates. This hit may hurt Qiagen despite the fact that shares are currently up 0.19% today. QGEN is underperforming the broader averages missing the percent and a half with the rest of the market.

Qiagen closed at $20.80 on Wednesday. Quest closed at $61.70 and is currently trading down 4.72%.