Penumbra (PEN) Getting Somewhat Positive News Coverage, Study Shows
News stories about Penumbra (NYSE:PEN) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern rates the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Penumbra earned a coverage optimism score of 0.17 on Accern’s scale. Accern also gave news headlines about the company an impact score of 45.1471967869851 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news headlines that may have effected Accern Sentiment Analysis’s rankings:
- Penumbra, Inc. (PEN) Upgraded by BidaskClub to Buy (americanbankingnews.com)
- Robert D. Evans Sells 10,000 Shares of Penumbra, Inc. (PEN) Stock (americanbankingnews.com)
- Penumbra, Inc. breached its 50 day moving average in a Bullish Manner : PEN-US : August 10, 2017 (finance.yahoo.com)
- IHS Markit Score upgrades Penumbra Inc to 47 out of 100, despite ranking positively in only one IHS Markit category. (finance.yahoo.com)
Shares of Penumbra (NYSE:PEN) traded down 1.48% during mid-day trading on Friday, hitting $86.65. 349,052 shares of the stock traded hands. Penumbra has a 12-month low of $56.05 and a 12-month high of $91.00. The stock has a market cap of $2.93 billion, a P/E ratio of 585.47 and a beta of 0.10. The firm’s 50 day moving average price is $85.39 and its 200-day moving average price is $82.26.
Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. The business had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $77.16 million. During the same quarter last year, the company earned $0.01 EPS. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. Analysts predict that Penumbra will post ($0.21) earnings per share for the current year.
A number of research analysts have commented on the stock. Zacks Investment Research lowered shares of Penumbra from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. BidaskClub raised shares of Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $96.00 target price on shares of Penumbra in a report on Friday, June 16th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $100.00 target price (up previously from $94.00) on shares of Penumbra in a report on Wednesday.
In related news, EVP Robert D. Evans sold 10,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $85.15, for a total value of $851,500.00. Following the completion of the transaction, the executive vice president now owns 11,704 shares in the company, valued at approximately $996,595.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Donen Davis sold 32,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total transaction of $2,541,440.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,345 shares of company stock worth $3,422,645. Corporate insiders own 22.00% of the company’s stock.
Penumbra Company Profile
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and 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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