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

Key Points

• Analysts hold a neutral view of Penumbra: Of 17 covering firms, 13 recommend “hold,” three recommend “buy,” and one recommends “sell.” The average 12-month price target is $367.07.
• Penumbra’s latest quarterly revenue reached $390.05 million, slightly exceeding estimates and rising 14.9% year over year, but earnings per share of $0.88 missed the $1.16 consensus forecast.
• Institutional investors own 88.88% of the stock, with several major holders increasing their positions. Shares opened at $327.13, while the stock trades at a relatively high P/E ratio of 80.38.

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have earned a consensus rating of "Hold" from the seventeen ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $367.0714.

A number of research firms recently commented on PEN. Weiss Ratings reiterated a "hold (c)" rating on shares of Penumbra in a research report on Friday, July 17th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Wall Street Zen raised Penumbra to a "hold" rating in a research report on Saturday, May 9th. Citigroup cut their price target on Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Finally, Evercore reaffirmed an "outperform" rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th.

Penumbra Trading Up 0.7%

NYSE:PEN opened at $327.13 on Thursday. 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 has a 12 month low of $221.26 and a 12 month high of $362.41. The company has a market cap of $12.89 billion, a PE ratio of 80.38, a price-to-earnings-growth ratio of 2.01 and a beta of 0.70. The company has a 50 day simple moving average of $319.90 and a two-hundred day simple moving average of $327.96.

Penumbra (NYSE:PEN - Get Free Report) last released 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 firm had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. Penumbra's quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Research analysts forecast that Penumbra will post 5.02 earnings per share for the current year.

Institutional Trading of Penumbra

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of Penumbra by 35.8% during the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company's stock valued at $5,169,000 after acquiring an additional 5,092 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Penumbra by 209.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company's stock worth $70,000 after purchasing an additional 184 shares in the last quarter. Cerity Partners LLC raised its holdings in Penumbra by 22.3% in the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company's stock worth $2,574,000 after purchasing an additional 1,829 shares during the period. California Public Employees Retirement System lifted its position in Penumbra by 7.9% during the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company's stock valued at $15,661,000 after purchasing an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Penumbra during the second quarter valued at about $1,137,000. 88.88% of the stock is currently owned by institutional investors.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra's technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra's portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.

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