Wells Fargo & Company Lowers Penumbra (NYSE:PEN) Price Target to $265.00

Penumbra (NYSE:PENGet Rating) had its target price lowered by equities research analysts at Wells Fargo & Company from $321.00 to $265.00 in a research note issued to investors on Wednesday, The Fly reports. Wells Fargo & Company‘s price target points to a potential upside of 52.17% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC started coverage on Penumbra in a research note on Tuesday, March 8th. They set a “hold” rating on the stock. JPMorgan Chase & Co. lowered their target price on Penumbra from $325.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 23rd. StockNews.com started coverage on Penumbra in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Canaccord Genuity Group lowered their target price on Penumbra from $335.00 to $244.00 in a research note on Wednesday, February 23rd. Finally, Zacks Investment Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra has a consensus rating of “Buy” and an average price target of $282.30.

NYSE:PEN opened at $174.15 on Wednesday. The company has a quick ratio of 3.39, a current ratio of 5.53 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $204.74 and its two-hundred day moving average price is $234.79. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 1,161.08 and a beta of 0.61. Penumbra has a 12-month low of $166.65 and a 12-month high of $320.00.

Penumbra (NYSE:PENGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). The business had revenue of $203.90 million during the quarter, compared to the consensus estimate of $195.39 million. Penumbra had a net margin of 0.71% and a return on equity of 3.57%. Penumbra’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Equities research analysts expect that Penumbra will post 0.84 EPS for the current year.

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

Several hedge funds have recently modified their holdings of PEN. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of 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. Raymond James & Associates boosted its holdings in shares of 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. Deutsche Bank AG boosted its holdings in shares of Penumbra by 47.8% during the 3rd quarter. Deutsche Bank AG now owns 14,932 shares of the company’s stock valued at $3,979,000 after acquiring an additional 4,832 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Penumbra during the 3rd quarter valued at $27,000. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Penumbra by 275.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 6,818 shares of the company’s stock valued at $1,817,000 after acquiring an additional 5,000 shares in the last quarter. 80.50% of the stock is currently owned by hedge funds and other 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.

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