Penumbra Inc (NYSE:PEN) EVP Robert D. Evans sold 10,000 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $121.03, for a total transaction of $1,210,300.00. Following the completion of the transaction, the executive vice president now owns 12,225 shares of the company’s stock, valued at approximately $1,479,591.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Penumbra stock traded down $1.50 on Friday, hitting $120.60. The company had a trading volume of 186,049 shares, compared to its average volume of 317,521. Penumbra Inc has a 52 week low of $77.75 and a 52 week high of $127.40.
Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.11. Penumbra had a net margin of 1.40% and a negative return on equity of 0.23%. The business had revenue of $96.05 million during the quarter, compared to analysts’ expectations of $87.69 million. sell-side analysts anticipate that Penumbra Inc will post 0.14 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in PEN. Carillon Tower Advisers Inc. acquired a new stake in Penumbra during the fourth quarter valued at approximately $33,998,000. Citadel Advisors LLC lifted its stake in Penumbra by 149.8% during the third quarter. Citadel Advisors LLC now owns 123,799 shares of the company’s stock valued at $11,179,000 after purchasing an additional 74,231 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Penumbra by 10.3% during the third quarter. Eagle Asset Management Inc. now owns 563,290 shares of the company’s stock valued at $51,991,000 after purchasing an additional 52,372 shares during the last quarter. Redmile Group LLC lifted its stake in Penumbra by 9.2% during the fourth quarter. Redmile Group LLC now owns 617,279 shares of the company’s stock valued at $58,086,000 after purchasing an additional 51,768 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Penumbra by 84.1% during the fourth quarter. Deutsche Bank AG now owns 92,442 shares of the company’s stock valued at $8,697,000 after purchasing an additional 42,220 shares during the last quarter. 73.41% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on PEN. Zacks Investment Research cut shares of Penumbra from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. BMO Capital Markets cut shares of Penumbra from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $117.00 to $110.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Wells Fargo increased their price objective on shares of Penumbra to $138.00 and gave the company an “outperform” rating in a report on Tuesday, March 13th. Canaccord Genuity reiterated a “buy” rating and issued a $113.00 price objective on shares of Penumbra in a report on Wednesday, January 24th. Finally, Goldman Sachs started coverage on shares of Penumbra in a report on Wednesday. They issued a “buy” rating and a $145.00 price objective for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Penumbra currently has an average rating of “Buy” and a consensus price target of $130.75.
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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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