Shares of Penumbra, Inc. (NYSE:PEN) have been given a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12 month consensus price objective of $96.25 for the company and are predicting that the company will post ($0.07) EPS for the current quarter, according to Zacks. Zacks has also assigned Penumbra an industry rank of 110 out of 265 based on the ratings given to related companies.
A number of research firms have recently commented on PEN. BMO Capital Markets reiterated a “buy” rating and set a $96.00 target price on shares of Penumbra in a research note on Friday, October 13th. Zacks Investment Research upgraded Penumbra from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. BidaskClub cut Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $100.00 target price (up from $94.00) on shares of Penumbra in a research note on Wednesday, August 9th.
Penumbra (NYSE:PEN) traded up 3.55% during trading on Friday, hitting $100.55. 349,018 shares of the company’s stock traded hands. The company’s 50 day moving average price is $91.72 and its 200 day moving average price is $86.93. Penumbra has a 52-week low of $56.05 and a 52-week high of $100.60. The company has a market cap of $3.40 billion, a PE ratio of 679.39 and a beta of 0.09.
Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $77.16 million. Penumbra had a negative return on equity of 2.58% and a negative net margin of 2.78%. The business’s revenue was up 23.8% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. Analysts expect that Penumbra will post ($0.21) earnings per share for the current year.
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In other news, Director Thomas Wilder sold 345 shares of Penumbra stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.20, for a total transaction of $31,119.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Harpreet Grewal sold 500 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $92.90, for a total value of $46,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 78,898 shares of company stock worth $6,682,805 over the last quarter. Company insiders own 13.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PEN. BlackRock Inc. raised its stake in Penumbra by 82,715.0% in the 1st quarter. BlackRock Inc. now owns 1,733,318 shares of the company’s stock valued at $144,643,000 after acquiring an additional 1,731,225 shares during the period. Eagle Asset Management Inc. raised its stake in Penumbra by 168.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 510,918 shares of the company’s stock valued at $44,833,000 after acquiring an additional 320,794 shares during the period. American Century Companies Inc. bought a new stake in Penumbra in the 2nd quarter valued at about $26,824,000. Victory Capital Management Inc. bought a new stake in Penumbra in the 3rd quarter valued at about $24,232,000. Finally, Vanguard Group Inc. raised its stake in Penumbra by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 2,118,227 shares of the company’s stock valued at $176,767,000 after acquiring an additional 183,706 shares during the period. Institutional investors and hedge funds own 70.93% 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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