According to Zacks, “Penumbra, Inc. is an interventional therapies company. It designs, develops, manufactures and markets medical devices. The company’s portfolio of products primarily addresses neuro and peripheral vascular medical conditions and clinical needs. Neuro products include Neurovascular Access, Neuron Access System, BENCHMARK Intracranial Access System, Penumbra System, 3D, Penumbra Coil 400, Penumbra SMART Coil and LIBERTY stent. Peripheral vascular products include Ruby Coil System, Penumbra Occlusion Device and Indigo System. It operates primarily in U.S., Europe, Canada and Australia. Penumbra, Inc. is headquartered in Alameda, California. “
Separately, Canaccord Genuity set a $67.00 target price on Penumbra and gave the stock a buy rating in a research note on Wednesday, July 20th.
Penumbra (NYSE:PEN) opened at 70.93 on Friday. The company has a 50-day moving average of $73.25 and a 200-day moving average of $61.93. Penumbra has a one year low of $35.31 and a one year high of $79.49. The company has a market cap of $2.20 billion and a price-to-earnings ratio of 921.17.
Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. Penumbra had a return on equity of 1.48% and a net margin of 1.54%. The company earned $65.10 million during the quarter, compared to analyst estimates of $58.18 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. Penumbra’s revenue was up 53.9% on a year-over-year basis. Equities research analysts expect that Penumbra will post ($0.17) EPS for the current fiscal year.
In other Penumbra news, EVP Robert D. Evans sold 6,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $73.00, for a total value of $459,900.00. Following the completion of the sale, the executive vice president now owns 2,538 shares in the company, valued at $185,274. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 29,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $72.95, for a total value of $2,115,550.00. Following the completion of the sale, the chief executive officer now owns 1,245,938 shares of the company’s stock, valued at approximately $90,891,177.10. The disclosure for this sale can be found here. 22.00% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in PEN. FMR LLC increased its stake in shares of Penumbra by 6.6% in the second quarter. FMR LLC now owns 4,494,768 shares of the company’s stock valued at $267,439,000 after buying an additional 278,722 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Penumbra by 2,492.4% in the second quarter. Vanguard Group Inc. now owns 1,529,260 shares of the company’s stock valued at $90,990,000 after buying an additional 1,470,270 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Penumbra by 31.9% in the second quarter. Lord Abbett & CO. LLC now owns 843,321 shares of the company’s stock valued at $50,178,000 after buying an additional 204,184 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Penumbra by 29.0% in the second quarter. Alliancebernstein L.P. now owns 674,307 shares of the company’s stock valued at $40,121,000 after buying an additional 151,517 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Penumbra by 459.8% in the second quarter. BlackRock Fund Advisors now owns 603,188 shares of the company’s stock valued at $35,890,000 after buying an additional 495,441 shares during the last quarter. Hedge funds and other institutional investors own 51.96% of the company’s stock.
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.
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