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Hologic: Analyst Upgrade Despite Fundamentals (NASDAQ:HOLX)
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Hologic Inc (NASDAQ:HOLX) has been upgraded by analysts at Canaccord Genuity from hold to buy. Analysts have also moved their price target for the stock from $29 to $37. Below we look at the fundamentals of HOLX.
Hologic Inc (NASDAQ:HOLX), a player in the Medical Appliances & Equipment industry closed the previous trading day at $31.67 after moving up 2.73% for the day.
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HOLX is trading with a trailing 12 month P/E multiple of 175.92 and an estimated forward P/E multiple of 18.44. The stock has an estimated 5 year annual growth of 7.84% and a PEG multiple of 22.44.
The P/E to growth multiple (PEG) takes into account the expected long term growth in earnings of the company rather than merely the growth for one earnings period ahead as forward P/E does.
As a general rule of thumb, a stock with a PEG of between 0 and 1 is usually considered to be underpriced, between 1 and 2 to be at fair value and over 2 to be overpriced. Based on the PEG ratio of HOLX being 22.44, we consider Hologic Inc to likely be overpriced.
The mean analyst 12 month target price for Hologic Inc (NASDAQ:HOLX) is currently $30.90 or 2.42% below the current price. Additionally, within the last 52 weeks of trading the stock has had a low of $20.24 and a high of $31.80. Analysts are estimating that HOLX will report earnings for the coming year of $1.72.
It would appear that analysts at Canaccord Genuity have increased their expectations from what the market consensus currently is regarding earnings and growth for HOLX.
