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Biotech / Medical : QIAGEN (QGENF) - Star of Germany's Biotechs
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To: Charlie Schultz who wrote (49)3/19/1998 11:11:00 AM
From: Vector1  Read Replies (2) of 122
 
<<On a biotech company I do not think a high p/e is cause
for alarm, especially for a company of Qiagens stature.>>

Let me first say I have a short position on this stock.

However, multiples of earning are how companies like QGENF should be valued. QGENF is not a drug discovery company but a biological tools company. In fact it is a solid company that will probably grow earnings at 25-35% for the next two or three years. The company's current valuation of in excess of 1.2 billion and 150 trailing earnings is simply not sustainable and the stock willeventually fall. Fair value for this company is $40 per share. I can not imagine what folks paying over $70 per share are thinking.
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