Penumbra (NYSE:PEN) issued its quarterly earnings results on Monday. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.14, Briefing.com reports. The business had revenue of $111.80 million for the quarter, compared to the consensus estimate of $103.59 million. Penumbra had a return on equity of 2.78% and a net margin of 7.19%. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share.
Shares of PEN stock traded up $2.96 during trading hours on Wednesday, reaching $150.67. The company’s stock had a trading volume of 68,028 shares, compared to its average volume of 341,303. The company has a market cap of $4.74 billion, a PE ratio of -15,067.00, a P/E/G ratio of 20.26 and a beta of 0.41. Penumbra has a fifty-two week low of $82.55 and a fifty-two week high of $167.35.
PEN has been the topic of a number of analyst reports. ValuEngine raised Penumbra from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Canaccord Genuity reissued a “buy” rating and set a $175.00 price target on shares of Penumbra in a research report on Monday, August 20th. Bank of America reissued a “buy” rating and set a $36.00 price target on shares of Penumbra in a research report on Monday, October 29th. Zacks Investment Research raised Penumbra from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research report on Tuesday, October 23rd. Finally, TheStreet raised Penumbra from a “d+” rating to a “c” rating in a research report on Monday, September 17th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $145.57.
In other Penumbra news, insider James Robert Pray sold 8,125 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $135.34, for a total value of $1,099,637.50. Following the sale, the insider now owns 1,578 shares of the company’s stock, valued at approximately $213,566.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Donen Davis sold 7,500 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $125.05, for a total value of $937,875.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,518 shares of company stock worth $4,003,618. Company insiders own 10.70% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Advisors Preferred LLC boosted its holdings in shares of Penumbra by 40.1% in the 2nd quarter. Advisors Preferred LLC now owns 1,220 shares of the company’s stock valued at $169,000 after purchasing an additional 349 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Penumbra in the 2nd quarter valued at $267,000. WINTON GROUP Ltd bought a new position in shares of Penumbra in the 1st quarter valued at $274,000. NumerixS Investment Technologies Inc lifted its stake in shares of Penumbra by 20.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,520 shares of the company’s stock valued at $354,000 after acquiring an additional 420 shares during the last quarter. Finally, Leavell Investment Management Inc. lifted its stake in shares of Penumbra by 35.0% in the 2nd quarter. Leavell Investment Management Inc. now owns 2,700 shares of the company’s stock valued at $373,000 after acquiring an additional 700 shares during the last quarter. 74.33% of the stock is currently owned by hedge funds and other institutional investors.
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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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