Penumbra, Inc. (PEN) Upgraded at BidaskClub
Penumbra, Inc. (NYSE:PEN) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Several other analysts have also recently issued reports on PEN. Canaccord Genuity reaffirmed a “buy” rating and set a $91.00 price objective on shares of Penumbra in a report on Monday, March 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $86.00 price objective on shares of Penumbra in a report on Tuesday, April 11th. Finally, Zacks Investment Research cut Penumbra from a “hold” rating to a “sell” rating in a report on Thursday, May 11th.
Shares of Penumbra (PEN) traded up 2.64% on Thursday, reaching $89.30. 198,070 shares of the company’s stock were exchanged. The firm has a market cap of $3.00 billion, a PE ratio of 320.07 and a beta of 0.15. Penumbra has a one year low of $54.96 and a one year high of $90.00. The company has a 50 day moving average price of $85.08 and a 200 day moving average price of $77.73.
Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.04. The business had revenue of $73.21 million during the quarter, compared to analysts’ expectations of $71.08 million. Penumbra had a negative return on equity of 2.25% and a negative net margin of 2.31%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share. Analysts expect that Penumbra will post ($0.13) EPS for the current fiscal year.
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In other news, EVP Robert D. Evans sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $85.24, for a total transaction of $852,400.00. Following the sale, the executive vice president now directly owns 12,075 shares of the company’s stock, valued at approximately $1,029,273. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.00% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Penumbra during the fourth quarter valued at about $3,484,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Penumbra by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,245 shares of the company’s stock valued at $845,000 after buying an additional 120 shares during the period. State Street Corp boosted its stake in shares of Penumbra by 9.4% in the fourth quarter. State Street Corp now owns 472,199 shares of the company’s stock valued at $30,130,000 after buying an additional 40,596 shares during the period. FMR LLC boosted its stake in shares of Penumbra by 1.9% in the fourth quarter. FMR LLC now owns 4,746,579 shares of the company’s stock valued at $302,831,000 after buying an additional 88,389 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Penumbra during the fourth quarter valued at about $211,000. 68.67% of the stock is currently owned by institutional investors and hedge funds.
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and 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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