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

Shares of Penumbra, Inc. (NYSE:PENGet Rating) have been given an average recommendation of “Buy” by the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $289.50.

Several brokerages recently weighed in on PEN. Canaccord Genuity Group cut their price objective on shares of Penumbra from $335.00 to $244.00 in a research report on Wednesday, February 23rd. StockNews.com began coverage on shares of Penumbra in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Truist Financial cut their price objective on shares of Penumbra from $350.00 to $300.00 in a research report on Wednesday, February 23rd. Zacks Investment Research upgraded shares of Penumbra from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Penumbra in a research report on Tuesday, April 19th. They issued a “buy” rating and a $250.00 price objective on the stock.

NYSE PEN opened at $171.84 on Thursday. Penumbra has a 12 month low of $171.11 and a 12 month 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 $6.47 billion, a price-to-earnings ratio of 1,145.68 and a beta of 0.46. The company’s fifty day moving average price is $207.62 and its two-hundred day moving average price is $237.44.

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

In other Penumbra news, EVP Johanna Roberts sold 1,500 shares of the firm’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $225.32, for a total transaction of $337,980.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 3,028 shares of company stock worth $682,033. 7.50% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PEN. Maverick Capital Ltd. acquired a new position in shares of Penumbra in the 4th quarter worth approximately $26,000. Moors & Cabot Inc. acquired a new position in shares of Penumbra in the 3rd quarter worth approximately $27,000. CI Investments Inc. acquired a new position in shares of Penumbra in the 3rd quarter worth approximately $40,000. Covestor Ltd purchased a new position in shares of Penumbra in the fourth quarter worth approximately $44,000. Finally, Horan Securities Inc. purchased a new position in shares of Penumbra in the fourth quarter worth approximately $86,000. 79.41% of the stock is currently owned by institutional investors.

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.

Further Reading

Analyst Recommendations for Penumbra (NYSE:PEN)

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