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. “
Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Penumbra from a buy rating to a hold rating in a research report on Monday, April 1st. HC Wainwright reaffirmed a buy rating on shares of Penumbra in a research report on Wednesday, April 17th. Finally, Canaccord Genuity raised their target price on shares of Penumbra from $138.00 to $160.00 and gave the company a buy rating in a research report on Wednesday, January 30th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $143.17.
Shares of NYSE:PEN traded up $0.52 during midday trading on Wednesday, reaching $132.09. 475,461 shares of the company were exchanged, compared to its average volume of 432,223. Penumbra has a fifty-two week low of $110.84 and a fifty-two week high of $167.35. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 259.00, a PEG ratio of 7.60 and a beta of 0.71.
Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 26th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $120.80 million for the quarter, compared to analyst estimates of $114.93 million. Penumbra had a net margin of 1.48% and a return on equity of 4.42%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period last year, the business posted $0.25 earnings per share. Equities analysts predict that Penumbra will post 0.83 earnings per share for the current year.
In other news, CFO Sridhar Kosaraju sold 5,000 shares of Penumbra stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $130.25, for a total value of $651,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Elsesser sold 8,000 shares of Penumbra stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $139.86, for a total transaction of $1,118,880.00. Following the completion of the transaction, the chief executive officer now directly owns 1,115,838 shares of the company’s stock, valued at approximately $156,061,102.68. The disclosure for this sale can be found here. In the last three months, insiders sold 86,175 shares of company stock valued at $13,148,571. Insiders own 10.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank grew its position in shares of Penumbra by 63.0% in the 4th quarter. Amalgamated Bank now owns 6,858 shares of the company’s stock valued at $838,000 after acquiring an additional 2,650 shares during the period. Baillie Gifford & Co. grew its position in shares of Penumbra by 35.8% in the 4th quarter. Baillie Gifford & Co. now owns 906,022 shares of the company’s stock valued at $110,715,000 after acquiring an additional 239,008 shares during the period. Vanguard Group Inc. grew its position in shares of Penumbra by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,646,066 shares of the company’s stock valued at $396,116,000 after acquiring an additional 68,479 shares during the period. First Trust Advisors LP grew its position in shares of Penumbra by 6.7% in the 4th quarter. First Trust Advisors LP now owns 279,456 shares of the company’s stock valued at $34,150,000 after acquiring an additional 17,624 shares during the period. Finally, Bellevue Group AG grew its position in shares of Penumbra by 25.6% in the 4th quarter. Bellevue Group AG now owns 24,050 shares of the company’s stock valued at $2,939,000 after acquiring an additional 4,908 shares during the period. 81.65% of the stock is owned by institutional investors.
Penumbra Company Profile
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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