On Thursday, Penumbra got an upgrade to its Relative Strength (RS) Rating, from 85 to 91.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating at the beginning of a new climb.
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Penumbra is now considered extended and out of buy range after clearing a 211.19 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company posted 28% EPS growth in the latest quarterly report, while sales growth came in at 11%.
The company holds the No. 2 rank among its peers in the Medical-Products industry group. Boston Scientific is the No. 1-ranked stock within the group.
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