Penumbra Inc (NYSE:PEN)’s share price reached a new 52-week high during trading on Tuesday after Wells Fargo & Co raised their price target on the stock to $138.00. Wells Fargo & Co currently has an outperform rating on the stock. Penumbra traded as high as $121.45 and last traded at $121.40, with a volume of 78089 shares trading hands. The stock had previously closed at $121.10.
A number of other equities analysts have also commented on PEN. BMO Capital Markets lifted their price target on shares of Penumbra from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Canaccord Genuity restated a “buy” rating and issued a $125.00 price objective (up previously from $113.00) on shares of Penumbra in a research note on Wednesday, February 28th. Zacks Investment Research downgraded shares of Penumbra from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. William Blair assumed coverage on shares of Penumbra in a research note on Wednesday, February 21st. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Penumbra from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 2nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $126.00.
In other news, insider Daniel Donen Davis sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $88.80, for a total value of $2,664,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas Wilder sold 345 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $91.15, for a total transaction of $31,446.75. The disclosure for this sale can be found here. Insiders have sold 84,345 shares of company stock worth $7,728,904 in the last quarter. Corporate insiders own 13.50% of the company’s stock.
The firm has a market cap of $4,230.00 and a price-to-earnings ratio of 248.67.
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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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