Zacks Investment Research upgraded shares of Penumbra (NYSE:PEN) from a sell rating to a hold rating in a report published 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. “
PEN has been the topic of several other research reports. BMO Capital Markets reaffirmed a buy rating and issued a $96.00 price target on shares of Penumbra in a research note on Friday, October 13th. Canaccord Genuity boosted their price target on Penumbra from $100.00 to $113.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Finally, JPMorgan Chase & Co. lowered Penumbra from an overweight rating to a neutral rating in a research note on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Penumbra currently has a consensus rating of Hold and an average price target of $111.50.
Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. The business had revenue of $83.90 million for the quarter, compared to analyst estimates of $79.17 million. Penumbra had a negative return on equity of 1.95% and a negative net margin of 2.19%. Penumbra’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. equities research analysts predict that Penumbra will post -0.15 earnings per share for the current year.
In other Penumbra news, insider Daniel Donen Davis sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $88.80, for a total value of $2,664,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam Elsesser sold 24,444 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $105.83, for a total value of $2,586,908.52. Following the completion of the transaction, the chief executive officer now directly owns 1,231,338 shares in the company, valued at approximately $130,312,500.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 345,026 shares of company stock worth $35,069,882. 13.50% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Penumbra by 10.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,159 shares of the company’s stock worth $102,000 after purchasing an additional 114 shares in the last quarter. Simplex Trading LLC boosted its stake in Penumbra by 116.2% in the fourth quarter. Simplex Trading LLC now owns 1,911 shares of the company’s stock worth $179,000 after purchasing an additional 1,027 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Penumbra in the third quarter worth $214,000. Verition Fund Management LLC acquired a new position in Penumbra in the second quarter worth $213,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Penumbra by 10.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the company’s stock worth $226,000 after purchasing an additional 250 shares in the last quarter. 71.71% of the stock is currently owned by institutional investors.
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Penumbra Company Profile
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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