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

Shares of Penumbra, Inc. (NYSE:PEN) have received an average rating of “Hold” from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $360.3333.

A number of equities research analysts have recently commented on PEN shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Citigroup cut their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Zacks Research cut shares of Penumbra from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th.

Penumbra Stock Up 0.2%

Shares of PEN opened at $318.60 on Friday. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of 73.41, a PEG ratio of 1.98 and a beta of 0.70. Penumbra has a 52 week low of $221.26 and a 52 week high of $362.41. The stock’s 50-day moving average price is $319.45 and its 200-day moving average price is $329.92. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $370.47 million. During the same quarter in the prior year, the business posted $0.83 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts predict that Penumbra will post 5.02 EPS for the current year.

Institutional Investors Weigh In On Penumbra

Several hedge funds have recently modified their holdings of PEN. Whitebox Advisors LLC acquired a new position in Penumbra in the 1st quarter worth about $146,125,000. Artisan Partners Limited Partnership grew its holdings in Penumbra by 165.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after purchasing an additional 370,636 shares during the period. William Blair Investment Management LLC acquired a new stake in Penumbra in the fourth quarter valued at approximately $107,567,000. Amundi increased its position in shares of Penumbra by 302.9% in the first quarter. Amundi now owns 345,758 shares of the company’s stock valued at $113,537,000 after buying an additional 259,936 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Penumbra by 130.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 400,160 shares of the company’s stock valued at $131,401,000 after buying an additional 226,314 shares in the last quarter. 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.