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Do you consider yourself a value investor, always looking for underestimated and potentially undervalued stocks? For ideas on how to start your own value search, we ran a screen.

We began by screening the healthcare industry for stocks currently rallying above their 20-day, 50-day, and 200-day moving averages, indicating that these stocks have strong upward momentum.

We then screened for those that may still be undervalued, by comparing price trends to changes in EPS estimates over the last month.

Based on the assumption that P/E is equal to a constant k, increases in EPS should be matched by increases in price. When they don't match up, a mispricing may have occurred.

We screened for stocks with faster growth in EPS estimates than price over the last month, which may indicate that these names are being undervalued.

Interactive Chart: Press Play to compare changes in market cap over the last two years for up to six of the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks will continue rallying higher? Use this list as a starting point for your own analysis.

List sorted by increase in EPS over the last 30 days.

1. Cynosure, Inc. (NASDAQ:CYNO): Develops, manufactures, and markets aesthetic treatment systems to the dermatology, plastic surgery, and general medical markets. Market cap at $276.98M, most recent closing price at $22.10. The stock is currently rallying 7.55% above its 20-day moving average, 15.67% above its 50-day MA, and 58.88% above its 200-day MA. The EPS estimate for the company's current year increased from 0.29 to 0.37 over the last 30 days, an increase of 27.59%. This increase came during a time when the stock price changed by 19.65% (from 17.61 to 21.07 over the last 30 days).

2. Rochester Medical Corp. (NASDAQ:ROCM): Develops, manufactures, and markets urinary continence and urine drainage care products for the home care and acute/extended care markets in the United States, Europe, and internationally. Market cap at $123.76M, most recent closing price at $10.32. The stock is currently rallying 3.60% above its 20-day moving average, 4.41% above its 50-day MA, and 21.50% above its 200-day MA. The EPS estimate for the company's current year increased from 0.14 to 0.16 over the last 30 days, an increase of 14.29%. This increase came during a time when the stock price changed by 8.05% (from 9.57 to 10.34 over the last 30 days).

3. Wright Medical Group Inc. (NASDAQ:WMGI): Engages in the design, manufacture, and marketing of devices and biologic products for the extremity, hip, and knee repair and reconstruction. Market cap at $835.34M, most recent closing price at $21.33. The stock is currently rallying 12.12% above its 20-day moving average, 14.25% above its 50-day MA, and 27.93% above its 200-day MA. The EPS estimate for the company's current year increased from 0.16 to 0.18 over the last 30 days, an increase of 12.5%. This increase came during a time when the stock price changed by 10.61% (from 18.85 to 20.85 over the last 30 days).

4. Mine Safety Appliances Co. (NYSE:MSA): Develops, manufactures, and supplies health and safety products used by workers in the fire service, homeland security, construction, and other industries, as well as the military. Market cap at $1.54B, most recent closing price at $41.56. The stock is currently rallying 0.18% above its 20-day moving average, 2.85% above its 50-day MA, and 22.81% above its 200-day MA. The EPS estimate for the company's current year increased from 2.31 to 2.59 over the last 30 days, an increase of 12.12%. This increase came during a time when the stock price changed by 1.42% (from 40.21 to 40.78 over the last 30 days).

5. Par Pharmaceutical Companies Inc. (NYSE:PRX): Engages in the development, manufacture, and distribution of generic and branded drugs in the United States. Market cap at $1.55B, most recent closing price at $41.37. The stock is currently rallying 1.14% above its 20-day moving average, 6.60% above its 50-day MA, and 25.04% above its 200-day MA. The EPS estimate for the company's current year increased from 3.54 to 3.86 over the last 30 days, an increase of 9.04%. This increase came during a time when the stock price changed by 2.71% (from 40.55 to 41.65 over the last 30 days).

6. West Pharmaceutical Services, Inc. (NYSE:WST): Manufactures and sells components and systems for injectable drug delivery and plastic packaging, and delivery system components for the pharmaceutical, healthcare, and consumer products industries. Market cap at $1.48B, most recent closing price at $43.87. The stock is currently rallying 3.11% above its 20-day moving average, 5.01% above its 50-day MA, and 11.09% above its 200-day MA. The EPS estimate for the company's current year increased from 2.47 to 2.65 over the last 30 days, an increase of 7.29%. This increase came during a time when the stock price changed by 6.54% (from 40.35 to 42.99 over the last 30 days).

7. Jazz Pharmaceuticals plc (NASDAQ:JAZZ): Develops and commercializes products for neurology and psychiatry primarily in the United States. Market cap at $2.87B, most recent closing price at $49.64. The stock is currently rallying 3.06% above its 20-day moving average, 1.07% above its 50-day MA, and 13.37% above its 200-day MA. The EPS estimate for the company's current year increased from 4.17 to 4.45 over the last 30 days, an increase of 6.71%. This increase came during a time when the stock price changed by 1.87% (from 49.86 to 50.79 over the last 30 days).

*EPS data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: 7 Rallying Healthcare Stocks Undervalued By EPS Trends