Penumbra, Inc. (NYSE:PEN) Given Average Rating of “Hold” by Brokerages

Penumbra, Inc. (NYSE:PEN) has received an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $361.6875.

PEN has been the topic of a number of research reports. Citigroup lowered shares of Penumbra from a “buy” rating to a “neutral” rating and raised their target price for the stock from $350.00 to $374.00 in a research report on Thursday, January 15th. Needham & Company LLC downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Evercore reiterated an “outperform” rating and set a $360.00 price target on shares of Penumbra in a research note on Wednesday, February 25th. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Royal Bank Of Canada lowered shares of Penumbra from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $355.00 to $374.00 in a research note on Tuesday, January 20th.

Penumbra Stock Down 0.3%

Penumbra stock opened at $336.26 on Monday. The company has a market capitalization of $13.20 billion, a P/E ratio of 74.39, a PEG ratio of 2.06 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.29 and a current ratio of 6.64. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The stock has a 50-day simple moving average of $342.42 and a 200-day simple moving average of $300.32.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The firm had revenue of $385.39 million for the quarter, compared to analysts’ expectations of $367.18 million. During the same quarter in the prior year, the business earned $0.97 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities research analysts expect that Penumbra will post 3.67 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $312.64, for a total transaction of $58,151.04. Following the transaction, the director owned 8,230 shares of the company’s stock, valued at $2,573,027.20. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Maggie Yuen sold 2,432 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the transaction, the chief financial officer owned 18,353 shares in the company, valued at $6,282,231.90. This trade represents a 11.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,804 shares of company stock valued at $948,419 over the last quarter. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Penumbra

Several large investors have recently modified their holdings of PEN. Mather Group LLC. acquired a new stake in shares of Penumbra during the third quarter worth $25,000. Larson Financial Group LLC increased its stake in Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after buying an additional 82 shares during the period. CIBC Private Wealth Group LLC raised its position in Penumbra by 2,700.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Motiv8 Investments LLC purchased a new position in Penumbra during the 4th quarter worth $27,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Penumbra in the 2nd quarter worth $30,000. 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.