Penumbra, Inc. (PEN) shares are rising more than 11 percent on Thursday morning trade despite the global healthcare company's third-quarter earnings missing estimates.
Currently, PEN is at $27.25, up 11.71 percent from its previous close of $232.72.
The company reported third-quarter net loss attributable to the company of $8.82 million, compared to profit of $11.48 million a year ago. On a per-share basis, loss was $0.24, while it reported a profit of $0.32 in the prior year. On an adjusted basis, earnings were $2.07 million or $0.06 per share. Wall Street analysts were looking for earnings of $0.07 per share.
Revenue for the quarter increased to $151.08 million from $139.50 million a year ago. Analysts expected revenue of $149.36 million.
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