Penumbra, Inc. (NYSE:PEN) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts give Penumbra a consensus “Hold” rating: Fourteen of 17 analysts recommend holding the stock, while three recommend buying it. The average 12-month price target is approximately $367.07.
• Penumbra opened at $317.86, with a market capitalization of $12.52 billion and a 12-month trading range of $221.26 to $362.41.
• The company reported quarterly EPS of $0.88, below the $1.16 analyst consensus, while revenue of $390.05 million slightly exceeded expectations and increased 14.9% year over year.

Penumbra, Inc. (NYSE:PEN - Get Free Report) has been assigned an average recommendation of "Hold" from the seventeen research firms that are covering the firm, MarketBeat reports. Fourteen equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $367.0714.

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

Penumbra Price Performance

NYSE:PEN opened at $317.86 on Monday. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 78.10, a price-to-earnings-growth ratio of 2.18 and a beta of 0.70. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01. The company's 50-day moving average is $321.50 and its two-hundred day moving average is $325.46. Penumbra has a 12-month low of $221.26 and a 12-month high of $362.41.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). The firm had revenue of $390.05 million for 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. Research analysts expect that Penumbra will post 4.96 EPS for the current year.

Institutional Investors Weigh In On Penumbra

Several hedge funds have recently modified their holdings of PEN. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Penumbra during the second quarter worth approximately $25,000. Larson Financial Group LLC boosted its holdings in shares of Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company's stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company's stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Penumbra during the 4th quarter valued at $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Penumbra during the 2nd quarter valued at $31,000. 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.

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