Penumbra Inc. (PEN) Shares Up 1.3%
Penumbra Inc. (NYSE:PEN) shot up 1.3% on Friday . The stock traded as high as $71.99 and last traded at $71.77, with a volume of 221,253 shares traded. The stock had previously closed at $70.88.
Several brokerages have recently weighed in on PEN. Canaccord Genuity reissued a “buy” rating and set a $62.00 target price on shares of Penumbra in a research report on Wednesday, June 1st. Zacks Investment Research raised Penumbra from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $56.75.
The company has a market cap of $2.23 billion and a price-to-earnings ratio of 932.08. The stock’s 50-day moving average price is $67.12 and its 200-day moving average price is $55.28.
Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. During the same period in the previous year, the company earned ($0.11) EPS. The company earned $65.10 million during the quarter, compared to analysts’ expectations of $58.18 million. Penumbra’s quarterly revenue was up 53.9% on a year-over-year basis. On average, equities research analysts forecast that Penumbra Inc. will post ($0.17) EPS for the current year.
In other news, CEO Adam Elsesser sold 29,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $72.95, for a total value of $2,115,550.00. Following the completion of the sale, the chief executive officer now owns 1,245,938 shares of the company’s stock, valued at $90,891,177.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert D. Evans sold 6,300 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $73.00, for a total value of $459,900.00. Following the completion of the sale, the executive vice president now directly owns 2,538 shares of the company’s stock, valued at approximately $185,274. 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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