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Is Penumbra (PEN) Stock Outpacing Its Medical Peers This Year?
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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Penumbra (PEN - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Penumbra is one of 817 individual stocks in the Medical sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PEN is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PEN's full-year earnings has moved 60.61% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, PEN has returned 45.56% so far this year. At the same time, Medical stocks have gained an average of 4.96%. This means that Penumbra is performing better than its sector in terms of year-to-date returns.
To break things down more, PEN belongs to the Medical - Instruments industry, a group that includes 92 individual companies and currently sits at #81 in the Zacks Industry Rank. On average, stocks in this group have gained 15.47% this year, meaning that PEN is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track PEN. The stock will be looking to continue its solid performance.
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Is Penumbra (PEN) Stock Outpacing Its Medical Peers This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Penumbra (PEN - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Penumbra is one of 817 individual stocks in the Medical sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PEN is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PEN's full-year earnings has moved 60.61% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, PEN has returned 45.56% so far this year. At the same time, Medical stocks have gained an average of 4.96%. This means that Penumbra is performing better than its sector in terms of year-to-date returns.
To break things down more, PEN belongs to the Medical - Instruments industry, a group that includes 92 individual companies and currently sits at #81 in the Zacks Industry Rank. On average, stocks in this group have gained 15.47% this year, meaning that PEN is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track PEN. The stock will be looking to continue its solid performance.