Is QIAGEN NV overvalued or undervalued?

As of 13 February 2025, QIAGEN NV's valuation grade has moved from fair to very expensive, indicating a significant shift in its perceived market value. The company is currently overvalued, with a P/E ratio of 20, which is notably higher than its peers such as Hologic, Inc. at 21.10 and Insulet Corp. at 49.67. Additionally, QIAGEN's EV to EBITDA stands at 14.57, while its peer average is lower, suggesting that QIAGEN is trading at a premium relative to its industry counterparts.
In terms of key financial metrics, QIAGEN NV has a Price to Book Value of 2.93 and a PEG ratio of 0.59, which may imply growth potential, but these figures do not offset the overall valuation concerns. The company's recent stock performance has lagged behind the S&P 500, with a 1-year return of 8.49% compared to the index's 10.26%, further reinforcing the notion that QIAGEN NV is currently overvalued in the market.