Penumbra Inc. (PEN) Sees Unusually-High Trading Volume
Penumbra Inc. (NYSE:PEN) shares saw unusually-high trading volume on Friday . Approximately 319,430 shares changed hands during trading, an increase of 11% from the previous session’s volume of 288,658 shares.The stock last traded at $73.21 and had previously closed at $74.34.
PEN has been the subject of a number of research reports. Canaccord Genuity reissued a “buy” rating on shares of Penumbra in a report on Tuesday, May 10th. Zacks Investment Research raised Penumbra from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $56.75.
The company has a market capitalization of $2.28 billion and a price-to-earnings ratio of 1198.39. The company’s 50-day moving average price is $62.82 and its 200-day moving average price is $53.02.
Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. The business earned $65.10 million during the quarter, compared to the consensus estimate of $58.18 million. During the same quarter last year, the company earned ($0.11) EPS. The firm’s revenue for the quarter was up 53.9% compared to the same quarter last year. On average, analysts expect that Penumbra Inc. will post ($0.18) EPS for the current year.
In other Penumbra news, EVP Robert D. Evans sold 5,000 shares of the company’s stock in a transaction on Monday, May 23rd. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Don W. Kassing sold 3,000 shares of the company’s stock in a transaction 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 approximately $194,520. The disclosure for this sale can be found here.
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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