Penumbra, Inc. (PEN) Price Target Increased to $113.00 by Analysts at Canaccord Genuity
Penumbra, Inc. (NYSE:PEN) had its price objective lifted by Canaccord Genuity from $100.00 to $113.00 in a report published on Wednesday morning. The brokerage currently has a buy rating on the stock.
PEN has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Penumbra from a sell rating to a hold rating in a research note on Wednesday, August 30th. BidaskClub upgraded shares of Penumbra from a hold rating to a buy rating in a research note on Saturday, August 12th. Finally, BMO Capital Markets restated a buy rating and set a $96.00 target price on shares of Penumbra in a research note on Friday, October 13th.
Shares of Penumbra (NYSE PEN) traded down $9.60 on Wednesday, hitting $106.25. 324,600 shares of the stock traded hands, compared to its average volume of 192,708. Penumbra has a 1-year low of $57.85 and a 1-year high of $116.35.
Penumbra (NYSE:PEN) last released its earnings results on Tuesday, November 7th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.07. Penumbra had a negative net margin of 2.19% and a negative return on equity of 1.95%. The firm had revenue of $83.90 million for the quarter, compared to analyst estimates of $79.17 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. research analysts expect that Penumbra will post -0.15 EPS for the current fiscal year.
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In related news, Director Harpreet Grewal sold 500 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $92.90, for a total transaction of $46,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert D. Evans sold 20,017 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $90.03, for a total transaction of $1,802,130.51. Following the sale, the executive vice president now owns 11,704 shares in the company, valued at $1,053,711.12. The disclosure for this sale can be found here. Insiders have sold 36,898 shares of company stock worth $3,289,865 over the last 90 days. Insiders own 13.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Suntrust Banks Inc. increased its stake in Penumbra by 2.6% in the second quarter. Suntrust Banks Inc. now owns 4,023 shares of the company’s stock valued at $353,000 after purchasing an additional 101 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased 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 valued at $102,000 after purchasing an additional 114 shares during the last quarter. Principal Financial Group Inc. increased its stake in Penumbra by 0.9% in the first quarter. Principal Financial Group Inc. now owns 13,031 shares of the company’s stock valued at $1,087,000 after purchasing an additional 121 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Penumbra by 0.3% in the first quarter. TIAA CREF Investment Management LLC now owns 72,827 shares of the company’s stock valued at $6,077,000 after purchasing an additional 227 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased 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 valued at $226,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 72.03% of the company’s stock.
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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