This Top Medical Stock is a #1 (Strong Buy): Why It Should Be on Your Radar
Building a successful investment portfolio takes skill and hard work, no matter if you're a growth, value, income, or momentum-focused investor.
Should You Buy #1 (Strong Buy)-Ranked Penumbra (PEN) for Your Portfolio?
Penumbra was upgraded to the Zacks Rank #1 list on August 3, 2023. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Headquartered in Alameda, CA, Penumbra, as a global healthcare company, designs, develops, manufactures and markets innovative products for use by specialist physicians and healthcare providers to drive improved clinical and health outcomes. It has a broad portfolio that addresses challenging medical conditions in markets with significant unmet needs.
Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.19 to $1.75 per share. PEN boasts an average earnings surprise of 94.2%.
Earnings are forecasted to see growth of 993.8% for the current fiscal year, and sales are expected to increase 25.2%.
Even more impressive, PEN has gained in value over the past four weeks, up 4.5% compared to the S&P 500's gain of 1%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Penumbra could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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