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Penumbra (PEN) Surges 3.6%: Is This an Indication of Further Gains?
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Penumbra (PEN - Free Report) shares soared 3.6% in the last trading session to close at $129.50. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2% gain over the past four weeks.
Penumbra recorded a strong price rise over investors’ optimism surrounding RBC Capital Markets’ recent coverage initiation of the stock with an Outperform rating. As per a Seeking Alpha article, one of the core reasons for the analysts’ optimism is, Penumbra operating in an attractive, high growth, under-penetrated neuro and vascular end-markets.
This medical device maker is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of -128.6%. Revenues are expected to be $206.27 million, up 11.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Penumbra, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PEN going forward to see if this recent jump can turn into more strength down the road.
Penumbra is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Semler Scientific Inc. , finished the last trading session 1.6% higher at $28.24. SMLR has returned -7.3% over the past month.
Semler Scientific Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.40. Compared to the company's year-ago EPS, this represents a change of -51.8%. Semler Scientific Inc. currently boasts a Zacks Rank of #3 (Hold).
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Penumbra (PEN) Surges 3.6%: Is This an Indication of Further Gains?
Penumbra (PEN - Free Report) shares soared 3.6% in the last trading session to close at $129.50. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2% gain over the past four weeks.
Penumbra recorded a strong price rise over investors’ optimism surrounding RBC Capital Markets’ recent coverage initiation of the stock with an Outperform rating. As per a Seeking Alpha article, one of the core reasons for the analysts’ optimism is, Penumbra operating in an attractive, high growth, under-penetrated neuro and vascular end-markets.
This medical device maker is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of -128.6%. Revenues are expected to be $206.27 million, up 11.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Penumbra, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PEN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Penumbra is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Semler Scientific Inc. , finished the last trading session 1.6% higher at $28.24. SMLR has returned -7.3% over the past month.
Semler Scientific Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.40. Compared to the company's year-ago EPS, this represents a change of -51.8%. Semler Scientific Inc. currently boasts a Zacks Rank of #3 (Hold).