Penumbra, Inc. (NYSE:PEN) Receives Average Rating of “Hold” from Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have received an average rating of “Hold” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Fourteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $359.25.

Several analysts have issued reports on the company. UBS Group downgraded Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Canaccord Genuity Group downgraded Penumbra from a “buy” rating to a “hold” rating and increased their price objective for the stock from $359.00 to $374.00 in a report on Tuesday, January 20th. Royal Bank Of Canada lowered Penumbra from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $355.00 to $374.00 in a research report on Tuesday, January 20th. BTIG Research downgraded Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price target for the company. in a research report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research note on Monday, December 29th.

Penumbra Trading Down 0.3%

NYSE:PEN opened at $338.72 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. The business’s 50-day simple moving average is $334.52 and its 200-day simple moving average is $290.76. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The stock has a market capitalization of $13.26 billion, a PE ratio of 81.03, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. Sell-side analysts expect that Penumbra will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 186 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the completion of the transaction, the director directly owned 8,230 shares in the company, valued at $2,573,027.20. This represents a 2.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arani Bose sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $308.82, for a total value of $4,632,300.00. Following the completion of the transaction, the director owned 258,462 shares of the company’s stock, valued at $79,818,234.84. The trade was a 5.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,372 shares of company stock worth $5,044,546 in the last three months. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PEN. Royal Bank of Canada increased its position in shares of Penumbra by 35.8% during the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after purchasing an additional 5,092 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Penumbra by 237.9% in the second quarter. AlphaQuest LLC now owns 838 shares of the company’s stock valued at $215,000 after buying an additional 590 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Penumbra in the second quarter valued at $214,000. Brighton Jones LLC acquired a new position in Penumbra during the second quarter worth $302,000. Finally, Teacher Retirement System of Texas increased its holdings in Penumbra by 19.3% during the second quarter. Teacher Retirement System of Texas now owns 12,851 shares of the company’s stock worth $3,298,000 after buying an additional 2,078 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.