Shares of Penumbra Inc. (NYSE:PEN) have earned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy rating.
Analysts have set a 12-month consensus price objective of $75.00 for the company and are expecting that the company will post ($0.11) earnings per share for the current quarter, according to Zacks. Zacks has also given Penumbra an industry rank of 111 out of 265 based on the ratings given to its competitors.
PEN has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Penumbra from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, July 12th. Canaccord Genuity set a $67.00 price target on shares of Penumbra and gave the company a “buy” rating in a research report on Wednesday, July 20th.
In other Penumbra news, insider Arani Bose sold 61,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $70.72, for a total transaction of $4,313,920.00. Following the completion of the transaction, the insider now owns 742,891 shares in the company, valued at approximately $52,537,251.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Elsesser sold 29,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $72.95, for a total transaction of $2,115,550.00. Following the transaction, the chief executive officer now owns 1,245,938 shares of the company’s stock, valued at approximately $90,891,177.10. The disclosure for this sale can be found here. 22.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Penumbra during the second quarter valued at approximately $3,689,000. Old Mutual Global Investors UK Ltd. purchased a new position in Penumbra during the second quarter valued at approximately $1,005,000. Balasa Dinverno & Foltz LLC purchased a new position in Penumbra during the second quarter valued at approximately $4,757,000. Phocas Financial Corp. purchased a new position in Penumbra during the first quarter valued at approximately $20,994,000. Finally, Bellevue Group AG purchased a new position in Penumbra during the first quarter valued at approximately $368,000. Institutional investors own 51.96% of the company’s stock.
Shares of Penumbra (NYSE:PEN) traded down 0.21% on Friday, reaching $71.12. 26,487 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.21 billion and a P/E ratio of 923.64. Penumbra has a one year low of $35.31 and a one year high of $79.49. The firm has a 50 day moving average of $73.25 and a 200 day moving average of $61.74.
Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. Penumbra had a net margin of 1.54% and a return on equity of 1.48%. The business earned $65.10 million during the quarter, compared to analysts’ expectations of $58.18 million. During the same period last year, the business earned ($0.11) earnings per share. The business’s revenue for the quarter was up 53.9% on a year-over-year basis. On average, equities research analysts predict that Penumbra will post ($0.17) EPS for the current year.
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.