Sridhar Kosaraju Sells 25,000 Shares of Penumbra Inc. (PEN) Stock
Penumbra Inc. (NYSE:PEN) CFO Sridhar Kosaraju sold 25,000 shares of the stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $65.07, for a total value of $1,626,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Penumbra Inc. (NYSE:PEN) opened at 68.05 on Tuesday. The firm has a 50-day moving average price of $68.62 and a 200 day moving average price of $65.09. The stock has a market capitalization of $2.15 billion, a PE ratio of 2722.00 and a beta of 0.31. Penumbra Inc. has a 12 month low of $40.23 and a 12 month high of $79.49.
Penumbra (NYSE:PEN) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The firm earned $67.20 million during the quarter, compared to analyst estimates of $63.25 million. Penumbra had a return on equity of 0.61% and a net margin of 0.61%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. Equities analysts anticipate that Penumbra Inc. will post ($0.10) earnings per share for the current year.
Several research firms recently commented on PEN. Zacks Investment Research raised Penumbra from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Thursday, October 13th. BMO Capital Markets began coverage on Penumbra in a research report on Monday, October 17th. They issued an “outperform” rating and a $86.00 target price on the stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new position in Penumbra during the third quarter valued at approximately $211,000. Credit Suisse AG raised its position in Penumbra by 26.1% in the third quarter. Credit Suisse AG now owns 33,688 shares of the company’s stock valued at $2,560,000 after buying an additional 6,970 shares during the last quarter. Pioneer Investment Management Inc. bought a new position in Penumbra during the third quarter valued at approximately $4,445,000. Eaton Vance Management bought a new position in Penumbra during the third quarter valued at approximately $902,000. Finally, 1832 Asset Management L.P. bought a new position in Penumbra during the third quarter valued at approximately $745,000. 54.81% of the stock is owned by hedge funds and other institutional investors.
Penumbra Company Profile
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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