Penumbra, Inc. (PEN - Snapshot Report) which designs, develops, manufactures and markets medical devices, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PEN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Penumbra could be a solid choice for investors.
Current Quarter Estimates for PEN
In the past 30 days, Penumbra’s trend has been pretty favorable, with estimates narrowing from a loss of 14 cents a share 30 days ago, to a loss of 11 cents today, a move of 21.4%.
Current Year Estimates for PEN
Meanwhile, Penumbra’s current year figures are also looking quite promising. The consensus estimate trend has seen a boost for this time frame, narrowing from a loss of 23 cents per share 30 days ago to a loss of 18 cents per share today, an increase of 21.7%.
The stock has also started to move higher lately, adding 4.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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