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

Penumbra, Inc. (NYSE:PEN) has been given an average recommendation of “Hold” by the eighteen brokerages that are currently covering the company, Marketbeat Ratings reports. Fourteen research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $359.25.

Several analysts have recently commented on PEN shares. Wells Fargo & Company reissued an “equal weight” rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, January 15th. Wall Street Zen lowered Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Bank of America lifted their target price on Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Royal Bank Of Canada lowered Penumbra from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $355.00 to $374.00 in a research note on Tuesday, January 20th. Finally, BTIG Research lowered Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price objective for the company. in a research report on Thursday, January 15th.

Insider Buying and Selling at Penumbra

In other news, Director Thomas Wilder sold 186 shares of Penumbra stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $294.94, for a total transaction of $176,964.00. Following the completion of the transaction, the executive vice president owned 64,136 shares in the company, valued at $18,916,271.84. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,372 shares of company stock worth $5,044,546 over the last quarter. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its stake in Penumbra by 1,139.3% in the second quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after buying an additional 582,369 shares during the period. Norges Bank bought a new stake in shares of Penumbra in the 2nd quarter valued at about $114,014,000. Artisan Partners Limited Partnership raised its position in shares of Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after acquiring an additional 370,636 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Penumbra in the 4th quarter valued at approximately $107,567,000. Finally, Holocene Advisors LP bought a new position in Penumbra during the 3rd quarter worth approximately $78,585,000. 88.88% of the stock is currently owned by institutional investors.

Penumbra Price Performance

Penumbra stock opened at $338.72 on Thursday. The business’s fifty day moving average is $334.52 and its two-hundred day moving average is $290.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. The firm has a market cap of $13.26 billion, a P/E ratio of 81.03, a P/E/G ratio of 2.09 and a beta of 0.82. Penumbra has a 52 week low of $221.26 and a 52 week high of $362.41.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.During the same period in the previous year, the business earned $0.97 earnings per share. Penumbra’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities research analysts forecast that Penumbra will post 3.67 earnings per share for the current fiscal year.

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.