Penumbra Inc. (PEN) Sees Large Volume Increase
Shares of Penumbra Inc. (NYSE:PEN) saw an uptick in trading volume on Monday . 188,750 shares traded hands during trading, a decline of 14% from the previous session’s volume of 220,167 shares.The stock last traded at $60.86 and had previously closed at $60.41.
A number of research firms have recently commented on PEN. Canaccord Genuity reaffirmed a “buy” rating and set a $60.00 price objective on shares of Penumbra in a report on Tuesday, April 5th. Zacks Investment Research raised shares of Penumbra from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, July 12th. Five equities research analysts have rated the stock with a buy rating, Penumbra has a consensus rating of “Buy” and a consensus price target of $56.75.
The stock has a market capitalization of $1.88 billion and a PE ratio of 985.48. The stock’s 50-day moving average is $59.66 and its 200 day moving average is $51.40.
Penumbra (NYSE:PEN) last issued its quarterly earnings data on Monday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.09. During the same quarter last year, the business earned $0.07 EPS. The business earned $57.90 million during the quarter, compared to the consensus estimate of $53.10 million. The firm’s quarterly revenue was up 48.8% compared to the same quarter last year. On average, analysts predict that Penumbra Inc. will post ($0.14) earnings per share for the current fiscal year.
In related news, EVP Robert D. Evans sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $50.52, for a total value of $252,600.00. Following the completion of the transaction, the executive vice president now owns 2,538 shares in the company, valued at approximately $128,219.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $145,890.00. Following the completion of the transaction, the director now owns 4,000 shares of the company’s stock, valued at approximately $194,520. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Penumbra stock. Jennison Associates acquired a new position in shares of Penumbra Inc. (NYSE:PEN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 65,000 shares of the company’s stock, valued at approximately $2,607,000. Jennison Associates owned about 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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