Penumbra rises on $200 mln share repurchase authorization

Penumbra

13/08/2024 15:49

** Shares of medical equipment maker Penumbra  PEN.N  rise
9.1% to $184.16
    ** PEN authorizes repurchase of shares worth $200 mln in
common stock
    ** New approval to include $100 mln accelerated share
repurchase (ASR) agreement with JPMorgan Chase
    ** Says Penumbra is funding the share repurchase under
the ASR with cash on hand 
    ** Repurchases may be made in open market or privately
negotiated transactions - PEN
    ** PEN has 38.84 mln outstanding shares - LSEG
    ** Including session gains, stock down ~27% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))