Penumbra Inc (NYSE:PEN) has earned a consensus broker rating score of 1.80 (Buy) from the five analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation and three have issued a strong buy recommendation on the company. Penumbra’s rating score has declined by 80% in the last three months as a result of various analysts’ upgrades and downgrades.
Analysts have set a 1-year consensus price objective of $113.60 for the company and are predicting that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Penumbra an industry rank of 150 out of 265 based on the ratings given to related companies.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Penumbra from a “hold” rating to a “sell” rating in a report on Wednesday. BMO Capital Markets boosted their target price on Penumbra from $96.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Canaccord Genuity boosted their target price on Penumbra from $100.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 2nd.
Shares of Penumbra (NYSE PEN) traded down $1.45 on Wednesday, hitting $88.25. The stock had a trading volume of 201,206 shares, compared to its average volume of 583,250. The firm has a market cap of $2,960.00 and a P/E ratio of 420.24. Penumbra has a fifty-two week low of $67.95 and a fifty-two week high of $116.35.
Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, November 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The business had revenue of $83.90 million for the quarter, compared to the consensus estimate of $79.17 million. Penumbra had a return on equity of 0.25% and a net margin of 0.28%. Penumbra’s revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. equities analysts predict that Penumbra will post -0.15 EPS for the current fiscal year.
In related news, CEO Adam Elsesser sold 24,444 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $105.83, for a total value of $2,586,908.52. Following the completion of the transaction, the chief executive officer now owns 1,231,338 shares in the company, valued at approximately $130,312,500.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arani Bose sold 16,452 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $105.89, for a total transaction of $1,742,102.28. Following the completion of the transaction, the insider now owns 728,680 shares of the company’s stock, valued at approximately $77,159,925.20. The disclosure for this sale can be found here. Insiders sold a total of 309,026 shares of company stock valued at $31,859,942 in the last 90 days. 13.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Suntrust Banks Inc. raised its position in Penumbra by 2.6% in the 2nd quarter. Suntrust Banks Inc. now owns 4,023 shares of the company’s stock worth $353,000 after purchasing an additional 101 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Penumbra by 10.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,159 shares of the company’s stock valued at $102,000 after acquiring an additional 114 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Penumbra by 10.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the company’s stock valued at $226,000 after acquiring an additional 250 shares during the last quarter. Stifel Financial Corp raised its position in shares of Penumbra by 2.1% during the 2nd quarter. Stifel Financial Corp now owns 16,226 shares of the company’s stock valued at $1,421,000 after acquiring an additional 340 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Penumbra by 11.0% during the 2nd quarter. Amalgamated Bank now owns 3,650 shares of the company’s stock valued at $320,000 after acquiring an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 71.71% of the company’s stock.
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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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