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

Penumbra, Inc. (NYSE:PENGet Rating) has earned an average rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $264.43.

PEN has been the topic of a number of recent analyst reports. Canaccord Genuity Group cut their price target on shares of Penumbra from $335.00 to $244.00 in a research note on Wednesday, February 23rd. JPMorgan Chase & Co. reduced their target price on Penumbra from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, February 23rd. Citigroup dropped their price target on Penumbra from $280.00 to $220.00 in a research note on Tuesday, May 17th. Needham & Company LLC initiated coverage on Penumbra in a research note on Tuesday, March 8th. They issued a “hold” rating for the company. Finally, BTIG Research started coverage on Penumbra in a research report on Friday, March 18th. They issued a “buy” rating and a $272.00 target price on the stock.

In other news, EVP Johanna Roberts sold 1,500 shares of Penumbra stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc increased its position in shares of Penumbra by 3.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,499 shares of the company’s stock valued at $431,000 after buying an additional 49 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in Penumbra by 0.6% in the 4th quarter. Leavell Investment Management Inc. now owns 8,900 shares of the company’s stock worth $2,557,000 after acquiring an additional 50 shares in the last quarter. Xponance Inc. raised its position in Penumbra by 0.8% during the fourth quarter. Xponance Inc. now owns 7,422 shares of the company’s stock worth $2,132,000 after acquiring an additional 61 shares during the period. State of Michigan Retirement System lifted its holdings in Penumbra by 0.7% during the first quarter. State of Michigan Retirement System now owns 8,914 shares of the company’s stock valued at $1,980,000 after purchasing an additional 63 shares in the last quarter. Finally, Abbot Financial Management Inc. grew its position in shares of Penumbra by 6.5% in the first quarter. Abbot Financial Management Inc. now owns 1,207 shares of the company’s stock valued at $268,000 after purchasing an additional 74 shares during the period. Institutional investors own 80.50% of the company’s stock.

Shares of PEN stock opened at $116.09 on Friday. The stock’s fifty day moving average price is $158.84 and its 200 day moving average price is $206.38. Penumbra has a 1-year low of $114.86 and a 1-year high of $293.20. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -682.84 and a beta of 0.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.31 and a quick ratio of 3.20.

Penumbra (NYSE:PENGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05). Penumbra had a positive return on equity of 1.97% and a negative net margin of 0.83%. The business had revenue of $203.90 million during the quarter, compared to analyst estimates of $195.39 million. During the same period in the prior year, the business posted $0.27 EPS. Penumbra’s revenue was up 20.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Penumbra will post 0.2 earnings per share for the current year.

About Penumbra (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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