Investors focused on the Medical space have likely heard of Penumbra (PEN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of PEN and the rest of the Medical group's stocks.
Penumbra is one of 844 companies in the Medical group. The Medical group currently sits at #2 within 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. PEN is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PEN's full-year earnings has moved 5.12% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, PEN has gained about 12.12% so far this year. In comparison, Medical companies have returned an average of 1.65%. As we can see, Penumbra is performing better than its sector in the calendar year.
Looking more specifically, PEN belongs to the Medical - Instruments industry, which includes 93 individual stocks and currently sits at #103 in the Zacks Industry Rank. This group has gained an average of 5.29% so far this year, so PEN is performing better in this area.
Investors in the Medical sector will want to keep a close eye on PEN as it attempts to continue its solid performance.