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Why Penumbra (PEN) Could Be Positioned for a Surge?

Penumbra, Inc.PEN is a medical instruments stock that 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, 2 estimates have gone higher for Penumbra with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 13 cents a share 30 days ago, to a loss of 9 cents today, a move of 30.8%.

Current Year Estimates for PEN

Meanwhile, Penumbra's current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to no downward revisions. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 32 cents per share 30 days ago to a loss of 7 cents per share today, an increase of 78.1%.

Bottom Line

The stock has also started to move higher lately, adding 41% 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.

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PENUMBRA INC (PEN): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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