Penumbra Inc. (PEN) Stock Price Down 1.4%
Penumbra Inc. (NYSE:PEN) shares traded down 1.4% during mid-day trading on Tuesday . The stock traded as low as $72.24 and last traded at $72.46, with a volume of 100,990 shares trading hands. The stock had previously closed at $73.47.
Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Penumbra from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Canaccord Genuity set a $67.00 target price on shares of Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $56.75.
The company’s 50 day moving average is $66.49 and its 200-day moving average is $54.97. The firm has a market capitalization of $2.20 billion and a price-to-earnings ratio of 918.70.
Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.08. During the same period in the prior year, the business earned ($0.11) earnings per share. The firm had revenue of $65.10 million for the quarter, compared to the consensus estimate of $58.18 million. The company’s revenue for the quarter was up 53.9% on a year-over-year basis. On average, equities research analysts predict that Penumbra Inc. will post ($0.17) EPS for the current year.
In related news, EVP Robert D. Evans sold 6,300 shares of Penumbra stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $73.00, for a total transaction of $459,900.00. Following the completion of the transaction, the executive vice president now directly owns 2,538 shares of the company’s stock, valued at approximately $185,274. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Elsesser sold 29,000 shares of Penumbra stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $72.95, for a total transaction of $2,115,550.00. Following the transaction, the chief executive officer now directly owns 1,245,938 shares of the company’s stock, valued at $90,891,177.10. 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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