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

Shares of Penumbra, Inc. (NYSE:PEN) have received an average rating of “Hold” from the eighteen brokerages that are covering the firm, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $358.00.

A number of research firms recently commented on PEN. Wells Fargo & Company reiterated an “equal weight” rating and issued a $374.00 price target on shares of Penumbra in a research note on Thursday, January 15th. Citigroup downgraded Penumbra from a “buy” rating to a “neutral” rating and increased their target price for the stock from $350.00 to $374.00 in a report on Thursday, January 15th. UBS Group downgraded Penumbra from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. William Blair lowered Penumbra from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 15th. Finally, BTIG Research downgraded shares of Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price objective for the company. in a report on Thursday, January 15th.

Penumbra Stock Up 0.4%

Shares of NYSE:PEN opened at $358.27 on Friday. The firm has a market cap of $14.03 billion, a PE ratio of 85.71, a price-to-earnings-growth ratio of 2.20 and a beta of 0.71. The company has a fifty day simple moving average of $319.08 and a 200 day simple moving average of $277.55. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02. Penumbra has a 12-month low of $221.26 and a 12-month high of $362.41.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.07. The company had revenue of $354.69 million during the quarter, compared to analyst estimates of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. On average, equities research analysts anticipate that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In related news, Director Arani Bose sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $308.82, for a total transaction of $4,632,300.00. Following the completion of the sale, the director owned 258,462 shares of the company’s stock, valued at $79,818,234.84. This represents a 5.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Wilder sold 186 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $310.72, for a total transaction of $57,793.92. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 34,144 shares of company stock valued at $10,260,127. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new stake in Penumbra in the third quarter worth $25,000. Newbridge Financial Services Group Inc. bought a new position in shares of Penumbra during the second quarter worth about $30,000. Rothschild Investment LLC bought a new position in shares of Penumbra during the third quarter worth about $40,000. Parkside Financial Bank & Trust increased its holdings in shares of Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 66 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Penumbra by 27.1% in the 4th quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock valued at $55,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds 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.