10 Cash-Rich Mid Cap Stocks To Buy Now

8. Qiagen N.V. (NYSE:QGEN)

Number of Hedge Fund Holders: 28

Cash and Cash Equivalents as of December 31, 2024: $1,057,782,000

Founded in 1984 and based in the Netherlands, Qiagen N.V. (NYSE:QGEN) specializes in molecular testing, providing tools for sample processing, DNA/RNA purification, and advanced PCR and NGS technologies. Its products are used for disease detection, genetic analysis, forensic testing, and pharmaceutical research. On February 14, 2025, the company launched a new data center in Melbourne, Australia, to expand its bioinformatics capabilities in the Asia Pacific region. This move strengthens its global network, which already includes seven data centers worldwide, and supports the growing demand for genomic testing solutions. QGEN ranks 8th on our list of the best cash rich stocks.

In Q4 2024, Qiagen N.V. (NYSE:QGEN)’s operating margin rose to 30.6%, driven by efficiency gains and the Numodix phase-out. Free cash flow increased 63% to €506 million, which sets the company on the path to achieve its goals. QGEN repurchased $300 million in shares, aiming to return $1 billion to shareholders by 2028. The company expects steady growth in 2025, driven by increased demand for diagnostic solutions and modest gains in PCR and genomics. To support long-term growth, Qiagen is preparing to launch three new sample tech systems within the next two years.

According to Insider Monkey’s Q4 data, 28 hedge funds reported owning stakes in Qiagen N.V. (NYSE:QGEN), compared to 26 funds in the last quarter. Marshall Wace LLP is the biggest stakeholder of the company, with a position worth $63.7 million.