Price Action To Observe: What’s in Penumbra Inc After Today’s Huge Increase?

Price Action To Observe: What's in Penumbra Inc After Today's Huge Increase?

The stock of Penumbra Inc (NYSE:PEN) is a huge mover today! About 371,350 shares traded hands or 112.87% up from the average. Penumbra Inc (NYSE:PEN) has risen 25.11% since April 4, 2016 and is uptrending. It has outperformed by 24.02% the S&P500.
The move comes after 9 months positive chart setup for the $1.86 billion company. It was reported on Nov, 4 by Barchart.com. We have $78.87 PT which if reached, will make NYSE:PEN worth $595.20M more.

Analysts await Penumbra Inc (NYSE:PEN) to report earnings on November, 10. They expect $-0.14 EPS, down 566.67% or $0.17 from last year’s $0.03 per share. After $0.01 actual EPS reported by Penumbra Inc for the previous quarter, Wall Street now forecasts -1,500.00% negative EPS growth.

Penumbra Inc (NYSE:PEN) Ratings Coverage

Out of 4 analysts covering Penumbra (NYSE:PEN), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Penumbra has been the topic of 6 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The rating was maintained by Canaccord Genuity on Monday, November 30 with “Buy”. JP Morgan initiated the stock with “Overweight” rating in Tuesday, October 13 report. The rating was initiated by Canaccord Genuity on Tuesday, October 13 with “Buy”. The stock of Penumbra Inc (NYSE:PEN) earned “Outperform” rating by Wells Fargo on Tuesday, October 13. The stock of Penumbra Inc (NYSE:PEN) has “Buy” rating given on Wednesday, October 14 by Bank of America.

According to Zacks Investment Research, “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.”

More notable recent Penumbra Inc (NYSE:PEN) news were published by: Prnewswire.com which released: “Penumbra, Inc. Reports Third Quarter 2016 Financial Results” on November 03, 2016, also Reuters.com with their article: “BRIEF-Penumbra, Inc. reports Q3 2016 financial results” published on November 03, 2016, Prnewswire.com published: “Penumbra, Inc. Schedules Third Quarter 2016 Earnings Release and Conference …” on October 20, 2016. More interesting news about Penumbra Inc (NYSE:PEN) were released by: Prnewswire.com and their article: “Penumbra, Inc. Reports Second Quarter 2016 Financial Results” published on August 09, 2016 as well as Prnewswire.com‘s news article titled: “Penumbra, Inc. Reports Fourth Quarter and Full Year 2015 Financial Results” with publication date: March 08, 2016.

PEN Company Profile

Penumbra, Inc. (Penumbra), incorporated on June 21, 2004, is an interventional therapies company. The Firm designs, develops, makes and markets medical devices. The Firm has a portfolio of products that addresses medical conditions and significant 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. The Firm focuses on developing, manufacturing and marketing products for use by specialist physicians, including interventional neuroradiologists, neurosurgeons, interventional neurologists, interventional radiologists and vascular surgeons. The Firm sells its products to hospitals primarily through its direct sales organization in the United States, most of Europe, Canada and Australia, as well as through distributors in select international markets.

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