Penumbra Inc. (PEN) Reaches New 52-Week High at $77.68
Penumbra Inc. (NYSE:PEN) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $77.68 and last traded at $76.56, with a volume of 282,028 shares trading hands. The stock had previously closed at $74.22.
A number of research firms have recently issued reports on PEN. Zacks Investment Research raised shares of Penumbra from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, July 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $62.00 target price on shares of Penumbra in a research note on Wednesday, June 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Penumbra has an average rating of “Buy” and a consensus price target of $56.75.
The firm has a 50 day moving average of $71.60 and a 200 day moving average of $58.39. The firm has a market cap of $2.40 billion and a PE ratio of 1001.95.
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Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. Penumbra had a net margin of 1.54% and a return on equity of 1.48%. The firm earned $65.10 million during the quarter, compared to the consensus estimate of $58.18 million. During the same period last year, the firm posted ($0.11) EPS. The firm’s revenue for the quarter was up 53.9% on a year-over-year basis. On average, analysts predict that Penumbra Inc. will post ($0.17) earnings per share for the current year.
In other news, CEO Adam Elsesser sold 29,000 shares of Penumbra stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $72.95, for a total transaction of $2,115,550.00. Following the completion of the sale, the chief executive officer now directly owns 1,245,938 shares in the company, valued at $90,891,177.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert D. Evans sold 3,100 shares of Penumbra stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $70.10, for a total transaction of $217,310.00. Following the sale, the executive vice president now owns 2,538 shares of the company’s stock, valued at $177,913.80. The disclosure for this sale can be found here. Insiders own 22.00% of the company’s stock.
Large investors have recently modified their holdings of the company. 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 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 valued at $90,990,000 after buying an additional 1,470,270 shares in the last quarter. 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 valued at $50,178,000 after buying an additional 204,184 shares in the last quarter. 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 valued at $40,121,000 after buying an additional 151,517 shares in the last quarter. 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 valued at $35,890,000 after buying an additional 495,441 shares in the last quarter. Institutional investors and hedge funds 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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