Penumbra Inc. (PEN) Stock Price Up 6.2%
Penumbra Inc. (NYSE:PEN) rose 6.2% on Wednesday . The stock traded as high as $65.47 and last traded at $65.47, with a volume of 374,848 shares traded. The stock had previously closed at $61.67.
PEN has been the subject of several recent analyst reports. Canaccord Genuity set a $67.00 target price on Penumbra and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Zacks Investment Research upgraded Penumbra from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, July 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Penumbra currently has a consensus rating of “Buy” and an average target price of $56.75.
Penumbra (NYSE:PEN) last released its earnings results on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. During the same quarter last year, the company posted $0.07 earnings per share. The business 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.
In related news, Director Don W. Kassing sold 3,000 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $48.63, for a total transaction of $145,890.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at $194,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert D. Evans sold 5,000 shares of the stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $50.52, for a total value 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 disclosure for this sale can be found here.
An institutional investor recently bought a new position in Penumbra stock. Jennison Associates bought a new stake in Penumbra Inc. (NYSE:PEN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 65,000 shares of the company’s stock, valued at approximately $2,607,000. Jennison Associates owned about 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.