Robert D. Evans Sells 20,017 Shares of Penumbra, Inc. (PEN) Stock
Penumbra, Inc. (NYSE:PEN) EVP Robert D. Evans sold 20,017 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $90.03, for a total transaction of $1,802,130.51. Following the completion of the sale, the executive vice president now directly owns 11,704 shares of the company’s stock, valued at $1,053,711.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Penumbra, Inc. (NYSE:PEN) opened at 90.30 on Friday. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 610.14 and a beta of 0.09. The firm’s 50-day moving average is $85.75 and its 200-day moving average is $84.49. Penumbra, Inc. has a 1-year low of $56.05 and a 1-year high of $91.00.
Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The firm had revenue of $80.60 million during the quarter, compared to analyst estimates of $77.16 million. Penumbra had a negative return on equity of 2.58% and a negative net margin of 2.78%. The company’s revenue was up 23.8% on a year-over-year basis. During the same period last year, the company earned $0.01 earnings per share. On average, analysts predict that Penumbra, Inc. will post ($0.21) earnings per share for the current fiscal year.
PEN has been the subject of a number of research analyst reports. BidaskClub raised shares of Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Canaccord Genuity reissued a “buy” rating and issued a $94.00 price target on shares of Penumbra in a report on Tuesday, June 13th. BMO Capital Markets reissued a “buy” rating and issued a $96.00 price target on shares of Penumbra in a report on Friday, June 16th. Finally, Zacks Investment Research raised shares of Penumbra from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC increased 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. grew its position in shares of Penumbra by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,165,995 shares of the company’s stock worth $190,066,000 after buying an additional 47,768 shares during the period. BlackRock Inc. grew its position in shares of Penumbra by 4.7% during the 2nd quarter. BlackRock Inc. now owns 1,815,299 shares of the company’s stock worth $159,294,000 after buying an additional 81,981 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Penumbra by 5.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,093,621 shares of the company’s stock worth $95,965,000 after buying an additional 53,109 shares during the period. Finally, State Street Corp grew its position in shares of Penumbra by 13.2% during the 2nd quarter. State Street Corp now owns 579,911 shares of the company’s stock worth $50,887,000 after buying an additional 67,441 shares during the period. Hedge funds and other institutional investors own 70.93% 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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