Penumbra Inc (NYSE:PEN) Receives $191.67 Average PT from Analysts

Shares of Penumbra Inc (NYSE:PEN) have been assigned an average recommendation of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $191.67.

A number of equities research analysts have weighed in on PEN shares. Canaccord Genuity reiterated a “buy” rating and set a $184.00 price target (down previously from $186.00) on shares of Penumbra in a research note on Tuesday, April 7th. Wells Fargo & Co reduced their target price on shares of Penumbra from $195.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, March 30th. JPMorgan Chase & Co. lifted their price target on Penumbra from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Zacks Investment Research cut Penumbra from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Finally, Citigroup lifted their price target on Penumbra from $192.00 to $214.00 and gave the company a “buy” rating in a report on Friday, May 8th.

In related news, CEO Adam Elsesser sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $172.01, for a total value of $1,376,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Arani Bose sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $185.07, for a total value of $1,850,700.00. Following the completion of the transaction, the insider now owns 560,662 shares of the company’s stock, valued at $103,761,716.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,044 shares of company stock valued at $8,661,795. 9.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of PEN. FMR LLC boosted its position in Penumbra by 0.3% during the 4th quarter. FMR LLC now owns 5,237,124 shares of the company’s stock worth $860,303,000 after acquiring an additional 18,184 shares during the last quarter. BlackRock Inc. boosted its position in Penumbra by 0.4% during the 1st quarter. BlackRock Inc. now owns 3,103,419 shares of the company’s stock worth $500,673,000 after acquiring an additional 11,544 shares during the last quarter. William Blair Investment Management LLC boosted its position in Penumbra by 3.9% during the 1st quarter. William Blair Investment Management LLC now owns 1,266,233 shares of the company’s stock worth $204,281,000 after acquiring an additional 48,046 shares during the last quarter. Wellington Management Group LLP boosted its position in Penumbra by 14.3% during the 1st quarter. Wellington Management Group LLP now owns 1,116,231 shares of the company’s stock worth $180,081,000 after acquiring an additional 139,901 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Penumbra by 15.7% during the 1st quarter. Invesco Ltd. now owns 626,177 shares of the company’s stock worth $101,021,000 after acquiring an additional 85,123 shares during the last quarter. Institutional investors and hedge funds own 83.77% of the company’s stock.

Shares of Penumbra stock traded down $0.30 during midday trading on Tuesday, hitting $172.42. The company had a trading volume of 253,908 shares, compared to its average volume of 243,823. The business’s 50 day simple moving average is $175.36 and its two-hundred day simple moving average is $169.26. The stock has a market cap of $6.05 billion, a PE ratio of 158.18 and a beta of 0.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.15 and a quick ratio of 3.27. Penumbra has a 1-year low of $121.80 and a 1-year high of $194.93.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $137.33 million during the quarter, compared to analyst estimates of $136.28 million. Penumbra had a return on equity of 5.72% and a net margin of 7.04%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. On average, sell-side analysts expect that Penumbra will post 0.2 EPS for the current fiscal year.

Penumbra Company Profile

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

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Analyst Recommendations for Penumbra (NYSE:PEN)

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