BMO Capital Markets began coverage on shares of Penumbra Inc. (NYSE:PEN) in a research report report published on Monday. The brokerage issued an outperform rating and a $86.00 price objective on the stock.
Several other equities research analysts have also commented on PEN. Zacks Investment Research upgraded Penumbra from a hold rating to a buy rating and set a $68.00 target price on the stock in a research report on Tuesday, July 12th. Canaccord Genuity set a $67.00 price target on Penumbra and gave the stock a buy rating in a report on Wednesday, July 20th.
Penumbra (NYSE:PEN) traded up 0.41% on Monday, hitting $72.90. The company had a trading volume of 10,792 shares. The stock has a 50 day moving average of $73.28 and a 200-day moving average of $62.36. The stock has a market capitalization of $2.26 billion and a PE ratio of 946.75. Penumbra has a one year low of $35.31 and a one year high of $79.49.
Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, August 9th. The company reported $0.01 EPS for the quarter, beating the 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 had revenue of $65.10 million for the quarter, compared to analyst estimates of $58.18 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The firm’s revenue for the quarter was up 53.9% compared to the same quarter last year. Equities analysts anticipate that Penumbra will post ($0.17) EPS for the current year.
In other news, CEO Adam Elsesser sold 29,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $72.95, for a total value of $2,115,550.00. Following the transaction, the chief executive officer now owns 1,245,938 shares in the company, valued at $90,891,177.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Evans sold 6,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $73.00, for a total value of $459,900.00. Following the completion of the transaction, the executive vice president now owns 2,538 shares in the company, valued at approximately $185,274. The disclosure for this sale can be found here. 22.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position 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 in the last quarter. Vanguard Group Inc. raised its position 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 in the last quarter. Lord Abbett & CO. LLC raised its position 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 in the last quarter. Alliancebernstein L.P. raised its position 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 in the last quarter. Finally, BlackRock Fund Advisors raised its position 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 in the last quarter. Institutional investors own 51.94% 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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