Penumbra Inc. (NYSE:PEN) Given Consensus Rating of “Strong Buy” by Analysts
Shares of Penumbra Inc. (NYSE:PEN) have been given an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy rating.
Analysts have set a 1-year consensus price target of $70.00 for the company and are anticipating that the company will post ($0.14) EPS for the current quarter, according to Zacks. Zacks has also assigned Penumbra an industry rank of 108 out of 265 based on the ratings given to its competitors.
Several brokerages have recently commented on PEN. Zacks Investment Research lowered Penumbra from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Canaccord Genuity set a $67.00 target price on Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 20th.
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In other news, CEO Adam Elsesser sold 29,000 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $72.95, for a total transaction of $2,115,550.00. Following the sale, the chief executive officer now owns 1,245,938 shares in the company, valued at $90,891,177.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert D. Evans sold 6,300 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $73.00, for a total value of $459,900.00. Following the sale, 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 large investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Penumbra by 236.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,758 shares of the company’s stock worth $2,664,000 after buying an additional 31,468 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Penumbra during the second quarter worth $164,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Penumbra by 221.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 18,592 shares of the company’s stock worth $1,106,000 after buying an additional 12,810 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Penumbra during the second quarter worth $1,428,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Penumbra during the second quarter worth $385,000. Institutional investors and hedge funds own 51.96% of the company’s stock.
Shares of Penumbra (NYSE:PEN) traded down 0.44% during trading on Tuesday, hitting $73.83. 51,161 shares of the stock traded hands. Penumbra has a 52-week low of $35.31 and a 52-week high of $77.25. The firm has a market cap of $2.29 billion and a price-to-earnings ratio of 958.83. The stock has a 50 day moving average of $71.44 and a 200 day moving average of $58.18.
Penumbra (NYSE:PEN) last announced its quarterly 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. The firm had revenue of $65.10 million for the quarter, compared to analyst estimates of $58.18 million. Penumbra had a return on equity of 1.48% and a net margin of 1.54%. The business’s revenue for the quarter was up 53.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) earnings per share. Analysts expect that Penumbra will post ($0.17) EPS for the current year.
Penumbra Company Profile
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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