Shares of Penumbra Inc. (NYSE:PEN) have been given an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus price target of $75.00 for the company and are predicting that the company will post ($0.11) EPS for the current quarter, according to Zacks. Zacks has also given Penumbra an industry rank of 105 out of 265 based on the ratings given to its competitors.
PEN has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Penumbra from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, July 12th. Canaccord Genuity set a $67.00 target price on Penumbra and gave the company a “buy” rating in a research report on Wednesday, July 20th. Finally, BMO Capital Markets initiated coverage on Penumbra in a research report on Monday. They set an “outperform” rating and a $86.00 target price for the company.
In other news, EVP Robert D. Evans sold 6,300 shares of Penumbra stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $73.00, for a total transaction of $459,900.00. Following the sale, the executive vice president now owns 2,538 shares in the company, valued at $185,274. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arani Bose sold 61,000 shares of Penumbra stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $70.72, for a total value of $4,313,920.00. Following the sale, the insider now owns 742,891 shares in the company, valued at approximately $52,537,251.52. The disclosure for this sale can be found here. 22.00% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in Penumbra by 6.6% in the second quarter. FMR LLC now owns 4,494,768 shares of the company’s stock worth $267,439,000 after buying an additional 278,722 shares during the period. Vanguard Group Inc. boosted its stake in Penumbra by 2,492.4% in the second quarter. Vanguard Group Inc. now owns 1,529,260 shares of the company’s stock worth $90,990,000 after buying an additional 1,470,270 shares during the period. Lord Abbett & CO. LLC boosted its stake in Penumbra by 31.9% in the second quarter. Lord Abbett & CO. LLC now owns 843,321 shares of the company’s stock worth $50,178,000 after buying an additional 204,184 shares during the period. Alliancebernstein L.P. boosted its stake in Penumbra by 29.0% in the second quarter. Alliancebernstein L.P. now owns 674,307 shares of the company’s stock worth $40,121,000 after buying an additional 151,517 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in Penumbra by 459.8% in the second quarter. BlackRock Fund Advisors now owns 603,188 shares of the company’s stock worth $35,890,000 after buying an additional 495,441 shares during the period. Institutional investors and hedge funds own 51.94% of the company’s stock.
Penumbra (NYSE:PEN) opened at 73.50 on Friday. Penumbra has a 12-month low of $35.31 and a 12-month high of $79.49. The firm has a 50-day moving average price of $73.33 and a 200-day moving average price of $62.56. The company has a market cap of $2.28 billion and a P/E ratio of 954.55.
Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, August 9th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.08. The firm earned $65.10 million during the quarter, compared to analysts’ expectations of $58.18 million. Penumbra had a return on equity of 1.48% and a net margin of 1.54%. The company’s quarterly revenue was up 53.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) EPS. On average, equities research analysts forecast that Penumbra will post ($0.17) earnings per share for the current fiscal year.
Penumbra, Inc (Penumbra) is an interventional therapies company. The Company designs, develops, manufactures and markets medical devices. The Company has a portfolio of products that addresses medical conditions and significant clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Penumbra Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penumbra Inc. and related companies with MarketBeat.com's FREE daily email newsletter.