Penumbra Inc. (PEN) Sees Unusually-High Trading Volume
Penumbra Inc. (NYSE:PEN) shares saw unusually-strong trading volume on Friday . Approximately 319,430 shares changed hands during mid-day trading, an increase of 11% from the previous session’s volume of 288,658 shares.The stock last traded at $73.21 and had previously closed at $74.34.
A number of analysts have recently commented on the company. Canaccord Genuity reissued a “buy” rating on shares of Penumbra in a research note on Tuesday, May 10th. 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Penumbra presently has a consensus rating of “Buy” and an average price target of $56.75.
The company has a market capitalization of $2.31 billion and a P/E ratio of 964.94. The stock has a 50-day moving average price of $63.23 and a 200 day moving average price of $53.22.
Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. The company had revenue of $65.10 million for the quarter, compared to the consensus estimate of $58.18 million. The business’s revenue for the quarter was up 53.9% compared to the same quarter last year. Analysts predict that Penumbra Inc. will post ($0.18) EPS for the current fiscal year.
In related news, EVP Robert D. Evans sold 5,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 2,538 shares in the company, valued at approximately $128,219.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Robert Pray sold 32,500 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $48.51, for a total value of $1,576,575.00. Following the sale, the insider now owns 631,770 shares in the company, valued at $30,647,162.70. 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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