Penumbra, Inc. (NYSE:PEN) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Penumbra has a consensus “Hold” rating from 17 brokerages: 14 analysts recommend holding the stock and three recommend buying it. The average 12-month price target is $367.07.
• Shares opened at $321.21 and were trading near their 50-day average, with a market capitalization of approximately $12.65 billion. The stock was up 0.7%.
• Penumbra’s latest quarterly results showed 15.6% year-over-year revenue growth to $410.15 million, exceeding estimates, although earnings of $1.07 per share fell short of the $1.20 consensus forecast.

Penumbra, Inc. (NYSE:PEN - Get Free Report) has received an average recommendation of "Hold" from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. Fourteen 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 brokers that have updated their coverage on the stock in the last year is $367.07.

Several equities analysts have issued reports on PEN shares. Weiss Ratings upgraded Penumbra from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday. Evercore reissued an "outperform" rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Finally, Zacks Research raised shares of Penumbra from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th.

Penumbra Trading Up 0.7%

Shares of NYSE:PEN opened at $321.21 on Tuesday. Penumbra has a 12-month low of $221.26 and a 12-month high of $362.41. The business's fifty day simple moving average is $320.49 and its 200-day simple moving average is $327.47. The company has a market capitalization of $12.65 billion, a PE ratio of 80.91, a P/E/G ratio of 2.19 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.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.13). The company had revenue of $410.15 million during the quarter, compared to the consensus estimate of $401.41 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%. The company's revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 earnings per share. As a group, equities research analysts predict that Penumbra will post 4.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Penumbra

Several institutional investors have recently bought and sold shares of PEN. Public Employees Retirement System of Ohio purchased a new position in Penumbra in the second quarter valued at $3,454,000. Engineers Gate Manager LP grew its position in shares of Penumbra by 1,536.1% during the 2nd quarter. Engineers Gate Manager LP now owns 15,003 shares of the company's stock valued at $4,737,000 after acquiring an additional 14,086 shares during the period. HBK Investments L P increased its stake in shares of Penumbra by 12.5% in the 2nd quarter. HBK Investments L P now owns 1,838,508 shares of the company's stock valued at $580,509,000 after purchasing an additional 204,247 shares in the last quarter. Odyssean LLC boosted its position in Penumbra by 112.2% during the second quarter. Odyssean LLC now owns 9,328 shares of the company's stock worth $2,945,000 after purchasing an additional 4,932 shares in the last quarter. Finally, Sculptor Capital LP acquired a new stake in Penumbra in the 1st quarter valued at $18,717,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

About Penumbra

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat patients with vascular conditions. Its technologies are primarily designed for minimally invasive procedures in the neurovascular and peripheral vascular markets, including the treatment of ischemic stroke, brain aneurysms and other vascular disorders.

The company's product portfolio includes aspiration and mechanical thrombectomy systems for removing blood clots, embolization devices for blocking abnormal blood flow, and access and delivery products used during endovascular procedures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.