Penumbra (NYSE:PEN) Upgraded by Zacks Investment Research to “Hold”

Penumbra (NYSE:PENGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

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 analysts also recently weighed in on the stock. Truist Financial decreased their target price on shares of Penumbra from $350.00 to $300.00 in a research report on Wednesday, February 23rd. Canaccord Genuity Group decreased their target price on shares of Penumbra from $335.00 to $244.00 in a research report on Wednesday, February 23rd. BTIG Research initiated coverage on shares of Penumbra in a research report on Friday, March 18th. They set a “buy” rating and a $272.00 target price for the company. Needham & Company LLC initiated coverage on Penumbra in a report on Tuesday, March 8th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. cut their price target on Penumbra from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Penumbra has a consensus rating of “Buy” and a consensus target price of $287.90.

Penumbra stock opened at $179.64 on Wednesday. The business has a 50 day moving average of $208.51 and a 200-day moving average of $237.90. Penumbra has a 1 year low of $179.37 and a 1 year high of $320.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.53 and a quick ratio of 3.39. The company has a market capitalization of $6.77 billion, a P/E ratio of 1,197.68 and a beta of 0.46.

Penumbra (NYSE:PENGet Rating) last released its earnings results on Tuesday, February 22nd. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.09). The firm had revenue of $204.01 million for the quarter, compared to analyst estimates of $194.29 million. Penumbra had a net margin of 0.71% and a return on equity of 3.57%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. Equities analysts anticipate that Penumbra will post 0.85 EPS for the current year.

In related news, EVP Johanna Roberts sold 1,500 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $225.23, for a total value of $337,845.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 3,028 shares of company stock worth $682,033. 7.50% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of PEN. Amundi Pioneer Asset Management Inc. lifted its stake in Penumbra by 5.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 110,746 shares of the company’s stock valued at $16,280,000 after acquiring an additional 5,935 shares in the last quarter. SG Americas Securities LLC lifted its stake in Penumbra by 19.3% during the 3rd quarter. SG Americas Securities LLC now owns 8,774 shares of the company’s stock valued at $2,338,000 after acquiring an additional 1,418 shares in the last quarter. Raymond James & Associates lifted its stake in Penumbra by 1.3% during the 3rd quarter. Raymond James & Associates now owns 8,476 shares of the company’s stock valued at $2,259,000 after acquiring an additional 108 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Penumbra by 0.7% during the 3rd quarter. Retirement Systems of Alabama now owns 44,523 shares of the company’s stock valued at $11,865,000 after acquiring an additional 322 shares in the last quarter. Finally, Shell Asset Management Co. lifted its stake in Penumbra by 449.7% during the 3rd quarter. Shell Asset Management Co. now owns 12,802 shares of the company’s stock valued at $3,412,000 after acquiring an additional 10,473 shares in the last quarter. Institutional investors and hedge funds own 79.41% of the company’s stock.

Penumbra Company Profile (Get Rating)

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.

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