Penumbra Inc. (PEN) Now Covered by Analysts at BMO Capital Markets
Several other equities analysts have also recently weighed in on PEN. Zacks Investment Research upgraded Penumbra from a hold rating to a buy rating and set a $68.00 price objective on the stock in a report on Tuesday, July 12th. Canaccord Genuity set a $67.00 price objective on Penumbra and gave the company a buy rating in a report on Wednesday, July 20th.
Penumbra (NYSE:PEN) traded up 0.41% during midday trading on Monday, hitting $72.90. The stock had a trading volume of 10,792 shares. Penumbra has a 1-year low of $35.31 and a 1-year high of $79.49. The firm has a 50-day moving average price of $73.28 and a 200-day moving average price of $62.36. The firm has a market capitalization of $2.26 billion and a price-to-earnings ratio of 946.75.
Penumbra (NYSE:PEN) last released its quarterly earnings data 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 return on equity of 1.48% and a net margin of 1.54%. The business had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $58.18 million. During the same quarter in the previous year, the business posted ($0.11) EPS. Penumbra’s revenue for the quarter was up 53.9% on a year-over-year basis. On average, equities research analysts anticipate that Penumbra will post ($0.17) earnings per share for the current year.
In related news, CEO Adam Elsesser sold 57,200 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $71.07, for a total transaction of $4,065,204.00. Following the transaction, the chief executive officer now directly owns 1,249,838 shares of the company’s stock, valued at approximately $88,825,986.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert D. Evans sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $70.10, for a total value of $217,310.00. Following the transaction, the executive vice president now directly owns 2,538 shares in the company, valued at $177,913.80. The disclosure for this sale can be found here. Company insiders own 22.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PEN. Cortina Asset Management LLC acquired a new position in Penumbra during the second quarter worth $2,803,000. UBS Group AG raised its position in Penumbra by 86,078.0% in the first quarter. UBS Group AG now owns 215,445 shares of the company’s stock worth $9,910,000 after buying an additional 215,195 shares during the last quarter. Geode Capital Management LLC raised its position in Penumbra by 40.8% in the first quarter. Geode Capital Management LLC now owns 29,670 shares of the company’s stock worth $1,364,000 after buying an additional 8,596 shares during the last quarter. Bank of New York Mellon Corp raised its position in Penumbra by 142.0% in the second quarter. Bank of New York Mellon Corp now owns 121,834 shares of the company’s stock worth $7,249,000 after buying an additional 71,487 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Penumbra during the second quarter worth $151,000. 51.94% of the stock is currently owned by institutional investors and hedge funds.
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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