Shares of Penumbra Inc (NYSE:PEN) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $157.50.
PEN has been the subject of a number of analyst reports. Wells Fargo & Co increased their price target on Penumbra to $138.00 and gave the company an “outperform” rating in a report on Tuesday, March 13th. Goldman Sachs Group initiated coverage on Penumbra in a report on Wednesday, April 4th. They issued a “buy” rating and a $145.00 price target for the company. Canaccord Genuity reissued a “buy” rating and issued a $125.00 price target on shares of Penumbra in a report on Thursday, April 5th. BMO Capital Markets increased their price target on Penumbra from $115.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, May 9th. Finally, ValuEngine raised Penumbra from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th.
Shares of Penumbra traded down $2.15, hitting $138.15, on Tuesday, according to MarketBeat. The company had a trading volume of 525,136 shares, compared to its average volume of 473,533. Penumbra has a 12-month low of $77.75 and a 12-month high of $167.35. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 1,151.25, a PEG ratio of 41.86 and a beta of 0.11.
Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, May 8th. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.08. The company had revenue of $102.70 million during the quarter, compared to the consensus estimate of $90.98 million. Penumbra had a return on equity of 1.13% and a net margin of 3.65%. The company’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) earnings per share. sell-side analysts expect that Penumbra will post 0.17 earnings per share for the current fiscal year.
In other Penumbra news, EVP Robert D. Evans sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $125.69, for a total transaction of $628,450.00. Following the sale, the executive vice president now owns 17,225 shares in the company, valued at $2,165,010.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bridget O’rourke acquired 700 shares of the business’s stock in a transaction on Friday, May 25th. The shares were purchased at an average price of $156.40 per share, for a total transaction of $109,480.00. The disclosure for this purchase can be found here. Insiders have sold 21,900 shares of company stock worth $3,002,726 in the last 90 days. 10.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new stake in Penumbra during the first quarter valued at approximately $1,072,000. Summit Trail Advisors LLC acquired a new stake in shares of Penumbra during the 1st quarter worth approximately $347,000. WINTON GROUP Ltd acquired a new stake in shares of Penumbra during the 1st quarter worth approximately $274,000. Xact Kapitalforvaltning AB raised its position in shares of Penumbra by 38.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 3,958 shares of the company’s stock worth $458,000 after purchasing an additional 1,100 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Penumbra by 20,432.4% during the 1st quarter. Royal Bank of Canada now owns 51,331 shares of the company’s stock worth $5,938,000 after purchasing an additional 51,081 shares during the period. Hedge funds and other institutional investors own 74.53% of the company’s stock.
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
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