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

Key Points

• Analyst consensus is “Hold”: Fourteen of 17 analysts rate Penumbra a hold, while three recommend buying. The average 12-month price target is $367.07, above the reported market price of $317.39.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 88.88% of Penumbra’s outstanding stock, with several firms recently initiating or increasing positions.
• Revenue grew but earnings missed estimates: Quarterly revenue increased 14.9% year over year to $390.05 million, while EPS of $0.88 fell short of the $1.16 consensus estimate. Analysts expect full-year EPS of $4.96.

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have been given an average recommendation of "Hold" by the seventeen analysts that are covering the company, 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 12-month price target among analysts that have covered the stock in the last year is $367.07.

PEN has been the topic of a number of recent research reports. Royal Bank Of Canada restated a "sector perform" rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Zacks Research upgraded shares of Penumbra from a "strong sell" rating to a "hold" rating in a report on Monday, August 24th. Weiss Ratings restated a "hold (c)" rating on shares of Penumbra in a research note on Friday, July 17th. Finally, Evercore reiterated an "outperform" rating and set a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th.

Institutional Trading of Penumbra

Several institutional investors have recently bought and sold shares of PEN. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Penumbra during the 2nd quarter valued at $25,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Penumbra in the second quarter worth $31,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Penumbra by 48.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 116 shares of the company's stock worth $37,000 after purchasing an additional 38 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Penumbra by 1,066.7% during the third quarter. CoreCap Advisors LLC now owns 140 shares of the company's stock valued at $45,000 after purchasing an additional 128 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Penumbra during the second quarter valued at $51,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Trading Up 0.3%

NYSE PEN opened at $317.39 on Friday. The firm has a market capitalization of $12.50 billion, a PE ratio of 77.98, a P/E/G ratio of 2.17 and a beta of 0.70. The stock's 50 day moving average is $321.54 and its 200 day moving average is $322.74. Penumbra has a twelve month low of $221.26 and a twelve month high of $362.41. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). The firm had revenue of $390.05 million during 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 for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS. Research analysts forecast that Penumbra will post 4.96 earnings per share for the current fiscal year.

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.

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