Penumbra Inc. (PEN) Hits New 52-Week High at $61.94
Penumbra Inc. (NYSE:PEN) shares hit a new 52-week high on Tuesday . The company traded as high as $61.94 and last traded at $61.61, with a volume of 145,579 shares. The stock had previously closed at $61.10.
A number of research analysts have weighed in on the company. 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 note on Tuesday, July 12th. Canaccord Genuity reissued a “buy” rating and set a $62.00 price target on shares of Penumbra in a research note on Wednesday, June 1st. Five analysts have rated the stock with a buy rating, Penumbra has an average rating of “Buy” and an average target price of $56.75.
The firm has a 50-day moving average price of $59.66 and a 200-day moving average price of $51.40. The stock has a market capitalization of $1.89 billion and a PE ratio of 994.68.
Penumbra (NYSE:PEN) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.09. The company had revenue of $57.90 million for the quarter, compared to analysts’ expectations of $53.10 million. The business’s quarterly revenue was up 48.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. On average, equities research analysts expect that Penumbra Inc. will post ($0.14) earnings per share for the current year.
In related news, EVP Robert D. Evans sold 5,000 shares of Penumbra stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $50.52, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Don W. Kassing sold 3,000 shares of Penumbra stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $48.63, for a total value of $145,890.00. Following the transaction, the director now owns 4,000 shares in the company, 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 Penumbra Inc. (NYSE:PEN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 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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