Penumbra (NYSE:PEN) Reaches New 1-Year High at $166.31

Penumbra Inc (NYSE:PEN) hit a new 52-week high on Monday . The stock traded as high as $166.31 and last traded at $165.89, with a volume of 276925 shares. The stock had previously closed at $160.81.

A number of research analysts have recently commented on PEN shares. ValuEngine downgraded Penumbra from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Zacks Investment Research downgraded Penumbra from a “buy” rating to a “hold” rating in a report on Friday, March 1st. HC Wainwright reiterated a “buy” rating on shares of Penumbra in a report on Wednesday, April 17th. William Blair started coverage on Penumbra in a report on Tuesday, May 21st. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Penumbra from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a report on Thursday, May 30th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $140.17.

The firm has a market cap of $5.68 billion, a P/E ratio of 317.67, a PEG ratio of 8.57 and a beta of 0.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.10 and a quick ratio of 4.34.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.10. The firm had revenue of $128.44 million during the quarter, compared to analysts’ expectations of $123.09 million. Penumbra had a return on equity of 5.84% and a net margin of 2.51%. The business’s revenue was up 25.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. Analysts expect that Penumbra Inc will post 0.87 earnings per share for the current year.

In related news, insider Arani Bose sold 55,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $160.07, for a total value of $8,803,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sridhar Kosaraju sold 5,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $143.45, for a total value of $717,250.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,175 shares of company stock valued at $13,047,341. Insiders own 9.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley lifted its position in Penumbra by 3.1% during the 3rd quarter. Morgan Stanley now owns 732,897 shares of the company’s stock worth $109,714,000 after acquiring an additional 21,910 shares during the period. Vanguard Group Inc lifted its position in Penumbra by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 2,646,066 shares of the company’s stock worth $396,116,000 after acquiring an additional 68,479 shares during the period. Strs Ohio acquired a new stake in Penumbra during the 4th quarter worth approximately $204,000. Xact Kapitalforvaltning AB lifted its position in Penumbra by 8.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 5,258 shares of the company’s stock worth $643,000 after acquiring an additional 400 shares during the period. Finally, Rhumbline Advisers lifted its position in Penumbra by 7.4% during the 4th quarter. Rhumbline Advisers now owns 35,985 shares of the company’s stock worth $4,397,000 after acquiring an additional 2,485 shares during the period. 86.59% of the stock is owned by hedge funds and other institutional investors.

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Penumbra Company Profile (NYSE:PEN)

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

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