Penumbra (NYSE:PEN) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Tuesday, The Fly reports.
Other analysts have also issued research reports about the stock. Canaccord Genuity boosted their price target on shares of Penumbra from $100.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. BMO Capital Markets restated a “buy” rating and set a $96.00 price target on shares of Penumbra in a research note on Friday, October 13th. Finally, Zacks Investment Research upgraded shares of Penumbra from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $111.50.
Shares of Penumbra (NYSE:PEN) opened at $94.10 on Tuesday. The company has a market cap of $3,193.62, a price-to-earnings ratio of -427.73 and a beta of 0.16. Penumbra has a one year low of $63.05 and a one year high of $116.35.
In other Penumbra news, CEO Adam Elsesser sold 10,000 shares of Penumbra stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $103.95, for a total transaction of $1,039,500.00. Following the transaction, the chief executive officer now directly owns 1,121,356 shares of the company’s stock, valued at approximately $116,564,956.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Arani Bose sold 16,452 shares of Penumbra stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $105.89, for a total transaction of $1,742,102.28. Following the transaction, the insider now directly owns 728,680 shares in the company, valued at $77,159,925.20. The disclosure for this sale can be found here. Insiders have sold a total of 269,181 shares of company stock worth $28,279,345 over the last ninety days. Insiders own 13.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PEN. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Penumbra by 10.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,159 shares of the company’s stock worth $102,000 after buying an additional 114 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Penumbra in the 2nd quarter worth about $151,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Penumbra by 108.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,149 shares of the company’s stock worth $163,000 after buying an additional 1,119 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Penumbra in the 2nd quarter worth about $164,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Penumbra in the 1st quarter worth about $194,000. 71.71% of the stock is currently owned by hedge funds and other institutional investors.
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Penumbra Company Profile
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.
