Penumbra, Inc. (PEN) Given New $117.00 Price Target at BMO Capital Markets
Penumbra, Inc. (NYSE:PEN) had its target price hoisted by BMO Capital Markets from $96.00 to $117.00 in a research report report published on Wednesday morning. They currently have an outperform rating on the stock.
Other equities research analysts have also issued reports about the company. BidaskClub lowered Penumbra from a buy rating to a hold rating in a report on Friday, August 18th. Canaccord Genuity restated a buy rating and issued a $100.00 target price (up from $94.00) on shares of Penumbra in a report on Wednesday, August 9th. Finally, Zacks Investment Research lowered Penumbra from a hold rating to a sell rating in a report on Saturday, August 12th.
Penumbra (PEN) traded down $9.60 on Wednesday, reaching $106.25. The company had a trading volume of 324,600 shares, compared to its average volume of 192,708. Penumbra has a 12-month low of $57.85 and a 12-month high of $116.35.
Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, November 7th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. Penumbra had a negative return on equity of 1.95% and a negative net margin of 2.19%. The firm had revenue of $83.90 million during the quarter, compared to analyst estimates of $79.17 million. During the same period in the previous year, the company earned ($0.04) EPS. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. analysts predict that Penumbra will post -0.15 earnings per share for the current year.
In other news, Director Thomas Wilder sold 345 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $90.20, for a total transaction of $31,119.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harpreet Grewal sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $82.65, for a total value of $371,925.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,898 shares of company stock valued at $3,289,865. Corporate insiders own 13.50% of the company’s stock.
Several hedge funds have recently modified their holdings of PEN. BlackRock Inc. lifted its holdings in shares of Penumbra by 82,715.0% during the first quarter. BlackRock Inc. now owns 1,733,318 shares of the company’s stock worth $144,643,000 after buying an additional 1,731,225 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Penumbra by 168.7% during the second quarter. Eagle Asset Management Inc. now owns 510,918 shares of the company’s stock worth $44,833,000 after buying an additional 320,794 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Penumbra during the second quarter worth approximately $26,824,000. Victory Capital Management Inc. acquired a new position in shares of Penumbra during the third quarter worth approximately $24,232,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Penumbra by 9.5% during the first quarter. Vanguard Group Inc. now owns 2,118,227 shares of the company’s stock worth $176,767,000 after buying an additional 183,706 shares during the last quarter. Institutional investors own 72.03% 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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