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

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned an average recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $361.3333.

Several equities research analysts have recently issued reports on the stock. Evercore reaffirmed an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a research report on Thursday, May 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Citigroup dropped 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 report on Saturday, May 9th.

Penumbra Stock Up 0.0%

PEN stock opened at $315.56 on Wednesday. The company’s 50 day moving average price is $322.35 and its 200 day moving average price is $329.47. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 72.71, a PEG ratio of 1.95 and a beta of 0.71. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02.

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 return on equity of 10.87% and a net margin of 11.76%.The firm had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. On average, equities research analysts anticipate that Penumbra will post 5.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction 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 sale, the director directly owned 8,719 shares in the company, valued at $2,861,750.18. This trade represents a 1.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Penumbra

Several hedge funds have recently made changes to their positions in the company. Whitebox Advisors LLC purchased a new stake in shares of Penumbra in the 1st quarter valued at about $146,125,000. Artisan Partners Limited Partnership grew its stake in Penumbra by 165.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after buying an additional 370,636 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Penumbra during the fourth quarter worth approximately $107,567,000. Holocene Advisors LP acquired a new position in Penumbra during the third quarter worth approximately $78,585,000. Finally, Amundi lifted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

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.