Penumbra Inc. (PEN) Hits New 12-Month High at $61.94
Penumbra Inc. (NYSE:PEN) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $61.94 and last traded at $61.61, with a volume of 145,579 shares changing hands. The stock had previously closed at $61.10.
PEN has been the topic of a number of recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $60.00 target price on shares of Penumbra in a research 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 target price on the stock in a research report on Tuesday, July 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Penumbra currently has an average rating of “Buy” and a consensus price target of $56.75.
The firm’s 50 day moving average is $59.91 and its 200 day moving average is $51.55. The stock has a market cap of $2.12 billion and a price-to-earnings ratio of 1112.58.
Penumbra (NYSE:PEN) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.09. The company earned $57.90 million during the quarter, compared to analyst estimates of $53.10 million. The company’s revenue was up 48.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 earnings per share. On average, analysts expect that Penumbra Inc. will post ($0.14) EPS for the current year.
In related news, EVP Robert D. Evans sold 5,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 2,538 shares of the company’s stock, valued at $128,219.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Robert Pray sold 32,500 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $48.51, for a total transaction of $1,576,575.00. Following the completion of the sale, the insider now directly owns 631,770 shares in the company, valued at $30,647,162.70. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Penumbra stock. Jennison Associates purchased a new stake in shares of Penumbra Inc. (NYSE:PEN) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 65,000 shares of the company’s stock, valued at approximately $2,607,000. Jennison Associates owned about 0.22% of Penumbra as of its most recent SEC filing.
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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