Penumbra, Inc. (NYSE:PEN) Stock Has Average Price Target of $367.07

Penumbra, Inc. (NYSE:PEN) has earned an average recommendation of “Hold” from the seventeen analysts that are presently covering the stock, MarketBeat reports. Fourteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $367.07.

Several research firms recently issued reports on PEN. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Finally, Evercore reiterated an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th.

Penumbra Trading Down 0.0%

Shares of PEN stock opened at $319.28 on Friday. Penumbra has a 52-week low of $221.26 and a 52-week high of $362.41. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 78.45, a P/E/G ratio of 2.19 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The firm has a fifty day moving average of $321.50 and a 200-day moving average of $322.62.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). The business had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%. Penumbra’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. On average, equities research analysts forecast that Penumbra will post 4.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Penumbra

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Penumbra in the 2nd quarter worth approximately $3,454,000. Engineers Gate Manager LP grew its position in Penumbra by 1,536.1% during the 2nd quarter. Engineers Gate Manager LP now owns 15,003 shares of the company’s stock worth $4,737,000 after acquiring an additional 14,086 shares during the last quarter. HBK Investments L P increased its holdings in Penumbra by 12.5% during the 2nd quarter. HBK Investments L P now owns 1,838,508 shares of the company’s stock valued at $580,509,000 after purchasing an additional 204,247 shares in the last quarter. Sculptor Capital LP acquired a new stake in Penumbra during the 1st quarter valued at $18,717,000. Finally, Alberta Investment Management Corp bought a new position in Penumbra in the 2nd quarter valued at $10,458,000. Institutional investors own 88.88% of the company’s stock.

About Penumbra

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat vascular conditions and other serious medical disorders. The company is best known for its minimally invasive technologies designed to remove blood clots, restore blood flow and support the treatment of neurovascular conditions, including ischemic stroke.

Its product portfolio includes aspiration and thrombectomy systems, embolization devices, access and delivery systems, and other technologies used by physicians in neurointerventional and peripheral vascular procedures.