Penumbra, Inc. (NYSE:PEN) Receives $361.33 Consensus Price Target from Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned an average rating of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Fourteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $361.3333.

A number of research firms have recently commented on PEN. Royal Bank Of Canada downgraded shares of Penumbra from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $355.00 to $374.00 in a research note on Tuesday, January 20th. UBS Group reaffirmed a “neutral” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, February 26th. Citigroup dropped their price objective on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Finally, Canaccord Genuity Group downgraded shares of Penumbra from a “buy” rating to a “hold” rating and increased their target price for the stock from $359.00 to $374.00 in a research report on Tuesday, January 20th.

Penumbra Trading Down 0.2%

NYSE PEN opened at $322.24 on Tuesday. Penumbra has a 12 month low of $221.26 and a 12 month high of $362.41. The company has a 50-day moving average of $330.98 and a 200-day moving average of $318.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95. The company has a market cap of $12.67 billion, a P/E ratio of 74.25, a P/E/G ratio of 1.97 and a beta of 0.74.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The company had revenue of $374.76 million for the quarter, compared to analyst estimates of $370.47 million. During the same period in the prior year, the company earned $0.83 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts predict that Penumbra will post 5.08 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Maggie Yuen sold 2,432 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the sale, the chief financial officer owned 18,353 shares of the company’s stock, valued at approximately $6,282,231.90. This represents a 11.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 100 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total transaction of $32,822.00. Following the sale, the director directly owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Penumbra

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quantinno Capital Management LP increased its position in Penumbra by 6.7% during the 1st quarter. Quantinno Capital Management LP now owns 13,641 shares of the company’s stock worth $4,480,000 after purchasing an additional 851 shares in the last quarter. Whitebox Advisors LLC purchased a new position in Penumbra in the 1st quarter worth approximately $146,125,000. Polar Asset Management Partners Inc. purchased a new position in Penumbra in the 1st quarter worth approximately $2,299,000. SummitTX Capital L.P. purchased a new position in Penumbra in the 1st quarter worth approximately $9,202,000. Finally, Lazard Asset Management LLC boosted its holdings in Penumbra by 15.5% in the 1st quarter. Lazard Asset Management LLC now owns 7,832 shares of the company’s stock worth $2,572,000 after acquiring an additional 1,052 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Company Profile

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.