Penumbra, Inc. (NYSE:PEN) Receives Average Rating of "Hold" from Brokerages

Key Points

• Eighteen analysts give Penumbra an average recommendation of Hold (14 holds, 4 buys) with a 12‑month average price target of $361.69.
• Penumbra reported quarterly EPS of -$0.37 versus expectations of $1.12 (a sizeable miss), while revenue of $385.39M beat estimates and rose 22.2% year‑over‑year.
• CFO Maggie Yuen sold 2,432 shares for about $832K (an 11.7% reduction in her stake); insiders own 4.20% of the stock and institutional investors hold 88.88%.

Penumbra, Inc. (NYSE:PEN - Get Free Report) has received an average recommendation of "Hold" from the eighteen ratings firms that are covering the firm, MarketBeat reports. Fourteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $361.6875.

Several equities research analysts recently weighed in on PEN shares. Wall Street Zen cut shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Saturday, January 17th. Wells Fargo & Company reissued an "equal weight" rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, January 15th. UBS Group restated a "neutral" rating and issued a $374.00 target price on shares of Penumbra in a report on Thursday, February 26th. Leerink Partners cut shares of Penumbra from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Finally, Piper Sandler downgraded shares of Penumbra from an "overweight" rating to a "hold" rating and set a $374.00 price target for the company. in a report on Thursday, January 15th.

Penumbra Price Performance

Shares of Penumbra stock opened at $331.53 on Friday. The stock has a 50 day moving average of $336.27 and a 200 day moving average of $308.52. Penumbra has a 12 month low of $221.26 and a 12 month high of $362.41. The firm has a market cap of $13.01 billion, a PE ratio of 73.35, a PEG ratio of 2.03 and a beta of 0.84. The company has a current ratio of 6.64, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.12 by ($1.49). The firm had revenue of $385.39 million during the quarter, compared to the consensus estimate of $367.18 million. Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The business's revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. On average, research analysts expect that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Maggie Yuen sold 2,432 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the transaction, the chief financial officer owned 18,353 shares of the company's stock, valued at approximately $6,282,231.90. The trade was a 11.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 100 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the sale, the director owned 8,719 shares in the company, valued at $2,861,750.18. The trade was a 1.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC lifted 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 worth $26,000 after acquiring an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Penumbra by 2,700.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company's stock worth $26,000 after purchasing an additional 81 shares during the period. Motiv8 Investments LLC purchased a new stake in Penumbra in the 4th quarter worth about $27,000. Mather Group LLC. bought a new stake in Penumbra in the third quarter worth about $25,000. Finally, Morse Asset Management Inc purchased a new position in shares of Penumbra during the fourth quarter valued at approximately $39,000. Institutional investors own 88.88% of the company's stock.

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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