Zacks Investment Research upgraded shares of Penumbra, Inc. (NYSE:PEN) from a sell rating to a hold rating in a research note released on Wednesday.
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. “
Several other equities analysts have also recently commented on the stock. BidaskClub raised shares of Penumbra from a hold rating to a buy rating in a research note on Thursday, June 22nd. BMO Capital Markets reaffirmed a buy rating and set a $96.00 price objective on shares of Penumbra in a research note on Wednesday, May 10th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $94.00 price objective on shares of Penumbra in a research note on Tuesday, June 13th.
Shares of Penumbra (NYSE PEN) opened at 87.90 on Wednesday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 593.92 and a beta of 0.09. Penumbra has a 52-week low of $56.05 and a 52-week high of $91.00. The company’s 50 day moving average is $84.70 and its 200 day moving average is $83.72.
Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $80.60 million during the quarter, compared to analysts’ expectations of $77.16 million. Penumbra had a negative net margin of 2.78% and a negative return on equity of 2.58%. Penumbra’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 earnings per share. Analysts anticipate that Penumbra will post ($0.21) earnings per share for the current year.
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In related news, Director Thomas Wilder sold 345 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $86.10, for a total transaction of $29,704.50. 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 business’s stock in a transaction that occurred on 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 have sold 46,845 shares of company stock valued at $3,794,570. 22.00% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Penumbra by 82,715.0% in the first quarter. BlackRock Inc. now owns 1,733,318 shares of the company’s stock worth $144,643,000 after buying an additional 1,731,225 shares in the last quarter. Eagle Asset Management Inc. boosted its position in Penumbra by 168.7% in the second quarter. Eagle Asset Management Inc. now owns 510,918 shares of the company’s stock worth $44,833,000 after buying an additional 320,794 shares in the last quarter. American Century Companies Inc. bought a new position in Penumbra during the second quarter worth approximately $26,824,000. FMR LLC boosted its position in Penumbra by 5.0% in the first quarter. FMR LLC now owns 4,985,173 shares of the company’s stock worth $416,013,000 after buying an additional 238,594 shares in the last quarter. Finally, Stephens Investment Management Group LLC bought a new position in Penumbra during the first quarter worth approximately $15,971,000. 70.93% of the stock is owned by institutional investors and hedge funds.
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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