Penumbra stock surged 6.3% on high volume due to positive earnings outlook

From Nasdaq: 2025-01-08 05:06:00

Penumbra (PEN) shares surged 6.3%, closing at $252.23 due to high trading volume. Stryker’s entry into the mechanical thrombectomy sector with Inari Medical acquisition boosted optimism. Expectations are for quarterly earnings of $0.91 per share and $312.19 million in revenues, reflecting a 19.7% and 9.7% increase respectively.

Despite positive earnings outlook, Penumbra’s consensus EPS estimate for the quarter dropped by 3.4% over the last 30 days. The stock currently holds a Zacks Rank #2 (Buy). Its industry peer, IQVIA Holdings (IQV), saw a 1.7% increase in stock price, with a consensus EPS estimate of $3.11 for the upcoming report.

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Read more at Nasdaq: Penumbra (PEN) Surges 6.3%: Is This an Indication of Further Gains?