Penumbra, Inc. (NYSE:PEN)‘s stock had its “buy” rating reaffirmed by analysts at BMO Capital Markets in a report released on Friday. They presently have a $96.00 target price on the stock. BMO Capital Markets’ price objective suggests a potential upside of 4.23% from the stock’s current price.
Several other equities analysts have also issued reports on the stock. BidaskClub upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Penumbra from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $100.00 target price (up from $94.00) on shares of Penumbra in a report on Wednesday, August 9th.
Shares of Penumbra (NYSE PEN) traded up 0.55% during mid-day trading on Friday, reaching $92.10. The company’s stock had a trading volume of 98,921 shares. The company has a 50-day moving average of $89.31 and a 200-day moving average of $85.99. Penumbra has a 12 month low of $56.05 and a 12 month high of $94.65. The company has a market cap of $3.11 billion, a P/E ratio of 622.30 and a beta of 0.09.
Penumbra (NYSE:PEN) last released its earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The firm had revenue of $80.60 million during the quarter, compared to analyst estimates of $77.16 million. During the same period last year, the business earned $0.01 earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. Equities research analysts forecast that Penumbra will post ($0.21) earnings per share for the current fiscal year.
In related news, insider Daniel Donen Davis sold 32,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total value of $2,541,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Wilder sold 345 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $86.10, for a total transaction of $29,704.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,243 shares of company stock valued at $6,712,509. 13.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Penumbra by 10.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,159 shares of the company’s stock worth $102,000 after acquiring an additional 114 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Penumbra in the 1st quarter worth approximately $194,000. Verition Fund Management LLC purchased a new position in Penumbra in the 2nd quarter worth approximately $213,000. FNY Partners Fund LP purchased a new position in Penumbra in the 1st quarter worth approximately $223,000. Finally, Prudential Financial Inc. purchased a new position in Penumbra in the 2nd quarter worth approximately $252,000. Institutional investors 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.