Penumbra, Inc. (PEN) Upgraded to “Buy” at BidaskClub
Penumbra, Inc. (NYSE:PEN) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.
A number of other brokerages have also commented on PEN. Zacks Investment Research lowered shares of Penumbra from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. BMO Capital Markets reissued a “buy” rating and set a $96.00 price objective on shares of Penumbra in a report on Friday, June 16th. Finally, Canaccord Genuity reissued a “buy” rating and set a $100.00 price objective (up from $94.00) on shares of Penumbra in a report on Wednesday, August 9th.
Shares of Penumbra (PEN) opened at 86.65 on Friday. The firm’s 50-day moving average price is $85.39 and its 200 day moving average price is $82.26. The company has a market capitalization of $2.93 billion, a PE ratio of 585.47 and a beta of 0.10. Penumbra has a 52-week low of $56.05 and a 52-week high of $91.00.
Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, August 8th. The company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The business had revenue of $80.60 million for the quarter, compared to analyst estimates of $77.16 million. Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the company posted $0.01 earnings per share. On average, equities analysts forecast that Penumbra will post ($0.21) earnings per share for the current year.
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In other Penumbra news, insider Daniel Donen Davis sold 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total value of $2,541,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Wilder sold 345 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $86.10, for a total transaction of $29,704.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,345 shares of company stock worth $3,422,645. 22.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Citadel Advisors LLC increased its stake in shares of Penumbra by 2.0% in the second quarter. Citadel Advisors LLC now owns 49,568 shares of the company’s stock valued at $4,350,000 after buying an additional 959 shares during the period. EAM Investors LLC bought a new stake in Penumbra during the second quarter valued at approximately $2,727,000. Parametric Portfolio Associates LLC increased its stake in Penumbra by 25.3% in the second quarter. Parametric Portfolio Associates LLC now owns 46,054 shares of the company’s stock valued at $4,041,000 after buying an additional 9,301 shares during the last quarter. Suntrust Banks Inc. increased its stake in Penumbra by 2.6% in the second quarter. Suntrust Banks Inc. now owns 4,023 shares of the company’s stock valued at $353,000 after buying an additional 101 shares during the last quarter. Finally, FMR LLC increased its stake in Penumbra by 1.2% in the second quarter. FMR LLC now owns 5,042,974 shares of the company’s stock valued at $442,521,000 after buying an additional 57,801 shares during the last quarter. Institutional investors own 69.01% of the company’s stock.
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.
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