Penumbra, Inc. (PEN) EVP Sells $448,470.00 in Stock
Penumbra, Inc. (NYSE:PEN) EVP Robert D. Evans sold 4,983 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $90.00, for a total transaction of $448,470.00. Following the completion of the transaction, the executive vice president now directly owns 11,704 shares in the company, valued at $1,053,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Penumbra, Inc. (NYSE PEN) traded down 0.45% during trading on Friday, reaching $88.90. 153,383 shares of the company’s stock traded hands. The company’s 50 day moving average is $85.75 and its 200-day moving average is $84.49. Penumbra, Inc. has a 52-week low of $56.05 and a 52-week high of $91.00. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 600.68 and a beta of 0.09.
Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The firm had revenue of $80.60 million for the quarter, compared to the consensus estimate of $77.16 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts anticipate that Penumbra, Inc. will post ($0.21) earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC lifted its holdings in shares of Penumbra by 5.1% in the second quarter. Lord Abbett & CO. LLC now owns 1,093,621 shares of the company’s stock worth $95,965,000 after buying an additional 53,109 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Penumbra in the second quarter worth about $213,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Penumbra by 10.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the company’s stock worth $226,000 after buying an additional 250 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Penumbra by 14.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,544 shares of the company’s stock worth $1,979,000 after buying an additional 2,897 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Penumbra by 13.2% in the second quarter. State Street Corp now owns 579,911 shares of the company’s stock worth $50,887,000 after buying an additional 67,441 shares in the last quarter. 70.93% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented on PEN. BidaskClub lowered shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Canaccord Genuity reissued a “buy” rating and issued a $100.00 target price (up from $94.00) on shares of Penumbra in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Penumbra from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $96.00 target price on shares of Penumbra in a report on Friday, June 16th.
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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