Bank of Montreal Can Takes Position in Penumbra Inc. (PEN)
Bank of Montreal Can bought a new stake in shares of Penumbra Inc. (NYSE:PEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 62,000 shares of the company’s stock, valued at approximately $3,689,000.
A number of other large investors also recently modified their holdings of PEN. JPMorgan Chase & Co. boosted its stake in Penumbra by 5.7% in the first quarter. JPMorgan Chase & Co. now owns 21,052 shares of the company’s stock valued at $968,000 after buying an additional 1,127 shares during the period. Bellevue Group AG acquired a new stake in Penumbra during the first quarter valued at $368,000. Geode Capital Management LLC boosted its stake in Penumbra by 40.8% in the first quarter. Geode Capital Management LLC now owns 29,670 shares of the company’s stock valued at $1,364,000 after buying an additional 8,596 shares during the period. Menta Capital LLC acquired a new stake in Penumbra during the first quarter valued at $460,000. Finally, Old Mutual Global Investors UK Ltd. acquired a new stake in Penumbra during the second quarter valued at $1,005,000. Institutional investors own 51.96% of the company’s stock.
Penumbra Inc. (NYSE:PEN) traded down 0.48% on Friday, hitting $70.93. The stock had a trading volume of 111,403 shares. The stock’s 50-day moving average is $73.25 and its 200 day moving average is $61.93. The firm has a market capitalization of $2.20 billion and a price-to-earnings ratio of 921.17. Penumbra Inc. has a 1-year low of $35.31 and a 1-year high of $79.49.
Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. Penumbra had a return on equity of 1.48% and a net margin of 1.54%. The firm had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $58.18 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. The business’s revenue was up 53.9% compared to the same quarter last year. On average, equities research analysts predict that Penumbra Inc. will post ($0.17) earnings per share for the current fiscal year.
Several research firms have weighed in on PEN. Zacks Investment Research upgraded Penumbra from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Thursday. Canaccord Genuity set a $67.00 price objective on Penumbra and gave the stock a “buy” rating in a report on Wednesday, July 20th.
In other news, CEO Adam Elsesser sold 29,000 shares of Penumbra 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 sale, the chief executive officer now directly owns 1,245,938 shares of the company’s stock, valued at $90,891,177.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert D. Evans sold 6,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $73.00, for a total value of $459,900.00. Following the sale, the executive vice president now directly owns 2,538 shares in the company, valued at $185,274. The disclosure for this sale can be found here. 22.00% of the stock is owned by insiders.
Penumbra Company Profile
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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