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

Penumbra, Inc. (NYSE:PEN) has earned an average rating of “Hold” from the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. Fourteen research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $361.3333.

A number of research analysts have issued reports on PEN shares. UBS Group restated a “neutral” rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, February 26th. Evercore restated an “outperform” rating and set a $335.00 price target on shares of Penumbra in a research note on Thursday, May 7th. Citigroup cut their price target on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th.

Penumbra Trading Down 0.0%

Shares of Penumbra stock opened at $320.51 on Friday. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. Penumbra has a 12-month low of $221.26 and a 12-month high of $362.41. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 73.85, a PEG ratio of 1.97 and a beta of 0.71. The firm’s 50 day simple moving average is $326.86 and its two-hundred day simple moving average is $326.01.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. During the same quarter in the previous year, the company posted $0.83 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts predict that Penumbra will post 5.08 EPS for the current year.

Insider Transactions at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the transaction, the director owned 8,719 shares in the company, valued at approximately $2,861,750.18. This represents a 1.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Institutional Trading of Penumbra

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC boosted its holdings in shares of Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Penumbra in the 4th quarter valued at $27,000. Morse Asset Management Inc purchased a new stake in shares of Penumbra in the 4th quarter valued at $39,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Penumbra in the 3rd quarter valued at $40,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Company Profile

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.