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

Shares of Penumbra, Inc. (NYSE:PEN) have received an average recommendation of “Hold” from the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $367.0714.

A number of analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Evercore restated an “outperform” rating and issued a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Zacks Research upgraded Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th.

Penumbra Price Performance

Penumbra stock opened at $317.63 on Monday. Penumbra has a 52-week low of $221.26 and a 52-week high of $362.41. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 78.04, a PEG ratio of 2.18 and a beta of 0.70. The company has a fifty day simple moving average of $321.57 and a 200-day simple moving average of $324.66. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01.

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

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HBK Investments L P raised its holdings in shares of Penumbra by 12.5% during the 2nd quarter. HBK Investments L P now owns 1,838,508 shares of the company’s stock worth $580,509,000 after acquiring an additional 204,247 shares during the period. Engineers Gate Manager LP grew its holdings in shares of Penumbra by 1,536.1% in the second quarter. Engineers Gate Manager LP now owns 15,003 shares of the company’s stock valued at $4,737,000 after purchasing an additional 14,086 shares during the period. Arizona State Retirement System increased its position in Penumbra by 0.9% during the second quarter. Arizona State Retirement System now owns 10,308 shares of the company’s stock worth $3,255,000 after purchasing an additional 87 shares during the last quarter. Nykredit A S purchased a new position in Penumbra during the second quarter worth about $489,000. Finally, Corient Private Wealth LP raised its stake in Penumbra by 16.8% during the second quarter. Corient Private Wealth LP now owns 1,757 shares of the company’s stock worth $555,000 after purchasing an additional 253 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Company Profile

Penumbra, Inc (NYSE:PEN) is a medical device company that develops, manufactures and markets products designed to treat neurovascular, vascular and other medical conditions. Its technologies are used by physicians in minimally invasive procedures, including the removal of blood clots, treatment of aneurysms and management of vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for ischemic stroke and pulmonary embolism, embolization devices for aneurysms and other vascular conditions, and access and peripheral vascular products.