Penumbra Inc. (PEN) Sets New 52-Week High at $61.87
Penumbra Inc. (NYSE:PEN) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $61.87 and last traded at $60.55, with a volume of 55,858 shares traded. The stock had previously closed at $60.71.
Several research firms recently commented on PEN. Zacks Investment Research upgraded shares of Penumbra from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday. Canaccord Genuity reiterated a “buy” rating and set a $62.00 price objective on shares of Penumbra in a research note on Wednesday, June 1st. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of Penumbra in a research note on Monday, March 14th. Five investment analysts have rated the stock with a buy rating, Penumbra currently has a consensus rating of “Buy” and an average target price of $55.50.
The stock has a market capitalization of $1.86 billion and a PE ratio of 977.42. The company has a 50-day moving average of $57.78 and a 200-day moving average of $50.94.
Penumbra (NYSE:PEN) last announced its earnings results on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. The company had revenue of $57.90 million for the quarter, compared to analysts’ expectations of $53.10 million. During the same period last year, the business earned $0.07 EPS. The company’s quarterly revenue was up 48.8% compared to the same quarter last year. Equities research analysts forecast that Penumbra Inc. will post ($0.14) earnings per share for the current year.
In other news, Director Don W. Kassing sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $48.63, for a total value of $145,890.00. Following the completion of the transaction, the director now owns 4,000 shares of the company’s stock, valued at $194,520. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Robert D. Evans acquired 1,538 shares of the stock in a transaction dated Thursday, May 19th. The stock was acquired at an average cost of $25.50 per share, with a total value of $39,219.00. Following the purchase, the executive vice president now owns 2,538 shares of the company’s stock, valued at approximately $64,719. The disclosure for this purchase can be found here.
An institutional investor recently bought a new position in Penumbra stock. Jennison Associates acquired a new stake in shares of Penumbra Inc. (NYSE:PEN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 65,000 shares of the company’s stock, valued at approximately $2,607,000. Jennison Associates owned 0.22% of Penumbra at the end of the most recent reporting period.
Penumbra, Inc (Penumbra) is an interventional therapies company. The Company designs, develops, manufactures and markets medical devices. The Company has a portfolio of products that addresses medical conditions and significant 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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