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Investors focused on the Medical space have likely heard of Penumbra (PEN), but is the stock performing well in comparison to the rest of its sector peers? 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 a member of the Medical sector. This group includes 976 individual stocks and currently holds a Zacks Sector Rank of #15. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 #1 (Strong Buy).
The Zacks Consensus Estimate for PEN's full-year earnings has moved 14.55% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, PEN has returned 52.80% so far this year. In comparison, Medical companies have returned an average of 2.14%. This shows that Penumbra is outperforming its peers so far this year.
Breaking things down more, PEN is a member of the Medical - Instruments industry, which includes 98 individual companies and currently sits at #164 in the Zacks Industry Rank. Stocks in this group have lost about 2.62% so far this year, so PEN is performing better this group in terms of year-to-date returns.
PEN will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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