Penumbra Inc. (NYSE:PEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Penumbra, Inc. is an interventional therapies company. It designs, develops, manufactures and markets medical devices. The company’s portfolio of products primarily addresses neuro and peripheral vascular medical conditions and clinical needs. Neuro products include Neurovascular Access, Neuron Access System, BENCHMARK Intracranial Access System, Penumbra System, 3D, Penumbra Coil 400, Penumbra SMART Coil and LIBERTY stent. Peripheral vascular products include Ruby Coil System, Penumbra Occlusion Device and Indigo System. It operates primarily in U.S., Europe, Canada and Australia. Penumbra, Inc. is headquartered in Alameda, California. “
Separately, Canaccord Genuity set a $67.00 target price on shares of Penumbra and gave the stock a “buy” rating in a research note on Wednesday, July 20th.
Penumbra (NYSE:PEN) opened at 70.93 on Friday. Penumbra has a 52 week low of $35.31 and a 52 week high of $79.49. The stock has a market capitalization of $2.20 billion and a P/E ratio of 921.17. The company’s 50-day moving average price is $73.25 and its 200 day moving average price is $61.93.
Penumbra (NYSE:PEN) last released its earnings results on Tuesday, August 9th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The firm earned $65.10 million during the quarter, compared to analysts’ expectations of $58.18 million. Penumbra had a net margin of 1.54% and a return on equity of 1.48%. Penumbra’s revenue for the quarter was up 53.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) EPS. Equities research analysts expect that Penumbra will post ($0.17) EPS for the current fiscal year.
In other news, CEO Adam Elsesser sold 29,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 1,245,938 shares of the company’s stock, valued at approximately $90,891,177.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Evans sold 3,100 shares of the business’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $70.10, for a total transaction of $217,310.00. Following the sale, the executive vice president now directly owns 2,538 shares of the company’s stock, valued at $177,913.80. The disclosure for this sale can be found here. Insiders own 22.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Penumbra by 108.6% in the third quarter. BNP Paribas Arbitrage SA now owns 2,149 shares of the company’s stock valued at $163,000 after buying an additional 1,119 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Penumbra by 5.7% in the first quarter. JPMorgan Chase & Co. now owns 21,052 shares of the company’s stock valued at $968,000 after buying an additional 1,127 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Penumbra by 723.5% in the second quarter. BlackRock Inc. now owns 2,487 shares of the company’s stock valued at $148,000 after buying an additional 2,185 shares in the last quarter. EAM Investors LLC boosted its stake in shares of Penumbra by 4.2% in the second quarter. EAM Investors LLC now owns 54,747 shares of the company’s stock valued at $3,257,000 after buying an additional 2,195 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Penumbra during the second quarter valued at about $151,000. 51.96% of the stock is owned by institutional investors.
Penumbra Company Profile
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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