Senseonics (NYSE:SENS) Trading Up 3.9% – Here’s What Happened

Shares of Senseonics Holdings, Inc. (NYSE:SENS) rose 3.9% during trading on Thursday . The stock traded as high as $7.68 and last traded at $7.51. Approximately 318,645 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 432,989 shares. The stock had previously closed at $7.23.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SENS. Barclays restated an “overweight” rating and set a $31.00 price target (up previously from $1.50) on shares of Senseonics in a research note on Wednesday, November 5th. HC Wainwright raised their target price on Senseonics to $18.50 and gave the stock a “buy” rating in a research report on Thursday, November 6th. TD Cowen reaffirmed a “buy” rating on shares of Senseonics in a research report on Thursday, January 8th. Finally, Stifel Nicolaus began coverage on Senseonics in a report on Tuesday, October 21st. They issued a “hold” rating and a $9.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $22.70.

Senseonics Stock Performance

The stock has a market capitalization of $306.85 million, a P/E ratio of -57.77 and a beta of 0.63. The company has a quick ratio of 2.38, a current ratio of 2.47 and a debt-to-equity ratio of 59.17. The company has a 50-day moving average price of $6.41 and a two-hundred day moving average price of $8.10.

Insiders Place Their Bets

In other Senseonics news, CFO Frederick T. Sullivan acquired 5,415 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $5.88 per share, for a total transaction of $31,840.20. Following the completion of the transaction, the chief financial officer owned 157,028 shares of the company’s stock, valued at approximately $923,324.64. This represents a 3.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edelman Steven acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $6.55 per share, with a total value of $65,500.00. Following the purchase, the director directly owned 74,708 shares of the company’s stock, valued at $489,337.40. This trade represents a 15.45% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 30,415 shares of company stock worth $184,790 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Senseonics

A number of institutional investors have recently added to or reduced their stakes in SENS. First Light Asset Management LLC raised its holdings in shares of Senseonics by 666.7% in the 2nd quarter. First Light Asset Management LLC now owns 35,708,124 shares of the company’s stock valued at $17,011,000 after acquiring an additional 31,050,619 shares in the last quarter. Hood River Capital Management LLC bought a new position in shares of Senseonics in the second quarter worth approximately $3,775,000. Sio Capital Management LLC purchased a new stake in Senseonics in the second quarter valued at approximately $2,312,000. UBS Group AG grew its stake in Senseonics by 409.0% in the 3rd quarter. UBS Group AG now owns 4,248,519 shares of the company’s stock worth $1,852,000 after buying an additional 3,413,866 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Senseonics by 26.6% in the 2nd quarter. Geode Capital Management LLC now owns 8,701,129 shares of the company’s stock worth $4,147,000 after buying an additional 1,828,302 shares during the last quarter. 12.36% of the stock is currently owned by institutional investors.

Senseonics Company Profile

Senseonics Holdings, Inc is a medical technology company focused on the development and commercialization of innovative continuous glucose monitoring (CGM) systems for people with diabetes. Since its founding in 2011 and headquartered in Germantown, Maryland, the company has pioneered an implantable sensor designed to deliver long-term glucose readings. Senseonics’ mission centers on improving diabetes management by providing accurate, real-time data to patients and healthcare providers.

The company’s flagship offering is the Eversense CGM System, which features a small, fully implantable sensor placed beneath the skin to measure glucose levels for up to 90 days in the United States and up to 180 days in Europe.