Penumbra, Inc. (NYSE:PEN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.

According to Zacks, “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. “

A number of other equities analysts also recently issued reports on PEN. BMO Capital Markets restated a “buy” rating and set a $96.00 price objective on shares of Penumbra in a research report on Wednesday, May 10th. Canaccord Genuity restated a “buy” rating and set a $94.00 price objective on shares of Penumbra in a research report on Tuesday, June 13th. Finally, BidaskClub upgraded Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd.

Penumbra (PEN) traded down 1.48% during trading on Friday, hitting $86.65. The stock had a trading volume of 349,052 shares. Penumbra has a 52 week low of $56.05 and a 52 week high of $91.00. The company has a 50-day moving average of $85.39 and a 200 day moving average of $82.26. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 585.47 and a beta of 0.10.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Penumbra had a negative return on equity of 2.58% and a negative net margin of 2.78%. The company had revenue of $80.60 million during the quarter, compared to the consensus estimate of $77.16 million. During the same period last year, the company earned $0.01 earnings per share. The firm’s revenue was up 23.8% compared to the same quarter last year. On average, equities research analysts anticipate that Penumbra will post ($0.21) EPS for the current year.

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In other Penumbra news, insider Daniel Donen Davis sold 32,000 shares of Penumbra stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.42, for a total value of $2,541,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Wilder sold 345 shares of Penumbra stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $86.10, for a total value of $29,704.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,345 shares of company stock valued at $3,422,645. 22.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of PEN. Mutual of America Capital Management LLC increased its stake in shares of Penumbra by 2.2% in the first quarter. Mutual of America Capital Management LLC now owns 23,088 shares of the company’s stock worth $1,927,000 after buying an additional 500 shares during the last quarter. Pioneer Investment Management Inc. increased its stake in shares of Penumbra by 27.9% in the first quarter. Pioneer Investment Management Inc. now owns 86,502 shares of the company’s stock worth $7,219,000 after buying an additional 18,873 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Penumbra by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 36,753 shares of the company’s stock worth $3,067,000 after buying an additional 360 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Penumbra during the first quarter worth $15,865,000. Finally, TD Asset Management Inc. acquired a new stake in shares of Penumbra during the first quarter worth $588,000. Institutional investors and hedge funds own 69.01% of the company’s stock.

Penumbra Company Profile

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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