Penumbra Inc. (PEN) Reaches New 12-Month High at $61.87
Shares of Penumbra Inc. (NYSE:PEN) reached a new 52-week high on Tuesday . The company 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.
A number of analysts have recently weighed in on PEN shares. Canaccord Genuity reissued a “buy” rating and set a $60.00 price target on shares of Penumbra in a research report on Monday, March 21st. Zacks Investment Research raised shares of Penumbra from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday. Five analysts have rated the stock with a buy rating, Penumbra currently has a consensus rating of “Buy” and an average price target of $55.50.
The firm has a market capitalization of $1.83 billion and a PE ratio of 960.81. The company has a 50-day moving average price of $58.28 and a 200-day moving average price of $51.08.
Penumbra (NYSE:PEN) last announced its earnings results on Monday, May 9th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.09. The business had revenue of $57.90 million for the quarter, compared to the consensus estimate of $53.10 million. Penumbra’s revenue for the quarter was up 48.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS. On average, analysts forecast that Penumbra Inc. will post ($0.14) EPS for the current year.
In related news, EVP Robert D. Evans sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $50.52, for a total value of $252,600.00. Following the transaction, the executive vice president now owns 2,538 shares in the company, valued at $128,219.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Robert Pray sold 32,500 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $48.51, for a total value of $1,576,575.00. Following the completion of the transaction, the insider now owns 631,770 shares in the company, valued at approximately $30,647,162.70. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Penumbra stock. Jennison Associates purchased a new stake in shares of Penumbra Inc. (NYSE:PEN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 quarter.
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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