Brokerages Expect Penumbra Inc (PEN) to Announce ($0.01) Earnings Per Share
Penumbra Inc (NYSE:PEN) has been given a consensus broker rating score of 1.40 (Strong Buy) from the five analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and four have given a strong buy rating to the company. Penumbra’s rating score has declined by 40% in the last 90 days as a result of a number of analysts’ ratings changes.
Brokerages have set a twelve-month consensus price objective of $115.00 for the company and are anticipating that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also given Penumbra an industry rank of 106 out of 265 based on the ratings given to related companies.
PEN has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Penumbra from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. BMO Capital Markets restated a “buy” rating and issued a $96.00 price objective on shares of Penumbra in a research note on Friday, October 13th. Canaccord Genuity raised their price objective on shares of Penumbra from $100.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, JPMorgan Chase & Co. downgraded shares of Penumbra from an “overweight” rating to a “neutral” rating in a research note on Tuesday.
Penumbra (PEN) opened at $90.35 on Wednesday. Penumbra has a twelve month low of $63.05 and a twelve month high of $116.35. The company has a market capitalization of $3,070.00 and a P/E ratio of 430.24.
Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07. Penumbra had a negative return on equity of 1.95% and a negative net margin of 2.19%. The company had revenue of $83.90 million for the quarter, compared to the consensus estimate of $79.17 million. During the same quarter last year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. equities research analysts expect that Penumbra will post -0.15 earnings per share for the current fiscal year.
In related news, Director Bridget O’rourke sold 429 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $106.60, for a total value of $45,731.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 24,444 shares of the firm’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 of the company’s stock, valued at $130,312,500.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,181 shares of company stock worth $28,279,345. 13.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position in Penumbra by 1.2% in the second quarter. FMR LLC now owns 5,042,974 shares of the company’s stock worth $442,521,000 after purchasing an additional 57,801 shares during the period. Vanguard Group Inc. lifted its position in Penumbra by 2.3% in the second quarter. Vanguard Group Inc. now owns 2,165,995 shares of the company’s stock worth $190,066,000 after purchasing an additional 47,768 shares during the period. BlackRock Inc. lifted its position in Penumbra by 4.7% in the second quarter. BlackRock Inc. now owns 1,815,299 shares of the company’s stock worth $159,294,000 after purchasing an additional 81,981 shares during the period. Lord Abbett & CO. LLC lifted its position in Penumbra by 5.1% in the second quarter. Lord Abbett & CO. LLC now owns 1,093,621 shares of the company’s stock worth $95,965,000 after purchasing an additional 53,109 shares during the period. Finally, State Street Corp lifted its position in Penumbra by 13.2% in the second quarter. State Street Corp now owns 579,911 shares of the company’s stock worth $50,887,000 after purchasing an additional 67,441 shares during the period. 71.71% of the stock is owned by hedge funds and other institutional investors.
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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