Penumbra (NYSE:PEN) Shares Break Below 50 Day Moving Average – Time to Sell?

Penumbra, Inc. (NYSE:PEN)’s share price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $321.74 and traded as low as $318.14. Penumbra shares last traded at $318.7630, with a volume of 186,317 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on the company. Evercore reissued an “outperform” rating and set a $320.00 price objective on shares of Penumbra in a report on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a research note on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Penumbra has an average rating of “Hold” and a consensus target price of $367.07.

Penumbra Stock Performance

The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $12.53 billion, a PE ratio of 78.16, a PEG ratio of 2.19 and a beta of 0.70. The company has a 50-day moving average price of $321.78 and a two-hundred day moving average price of $323.57.

Penumbra (NYSE:PEN) last posted its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The company had revenue of $390.05 million for the quarter, compared to analysts’ expectations of $389.64 million. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts predict that Penumbra, Inc. will post 4.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in Penumbra in the 2nd quarter worth about $3,454,000. Engineers Gate Manager LP grew its holdings in shares of Penumbra by 1,536.1% during the second quarter. Engineers Gate Manager LP now owns 15,003 shares of the company’s stock worth $4,737,000 after purchasing an additional 14,086 shares in the last quarter. Sculptor Capital LP bought a new position in shares of Penumbra in the first quarter worth approximately $18,717,000. Alberta Investment Management Corp bought a new stake in Penumbra during the second quarter valued at approximately $10,458,000. Finally, Odyssean LLC grew its stake in Penumbra by 112.2% in the 2nd quarter. Odyssean LLC now owns 9,328 shares of the company’s stock worth $2,945,000 after buying an additional 4,932 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Penumbra Company Profile

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.