Penumbra, Inc. (NYSE:PEN) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analyst sentiment on Penumbra is neutral overall, with a consensus rating of “Hold” from 17 analysts. Fourteen rate the stock a hold and three rate it a buy, with an average 1-year price target of about $361.33.
• Penumbra’s latest earnings showed a miss on EPS: it earned $0.82 per share versus the $1.06 consensus estimate, though revenue came in slightly ahead at $374.76 million. Revenue was up 15.6% year over year.
• There was notable insider selling, including sales by CFO Maggie Yuen and Director Harpreet Grewal, while institutional ownership remains high at 88.88% of the company’s stock.

Penumbra, Inc. (NYSE:PEN - Get Free Report) has been assigned a consensus rating of "Hold" from the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Fourteen research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $361.3333.

Several equities analysts have weighed in on PEN shares. Wall Street Zen raised Penumbra to a "hold" rating in a research report on Saturday. Robert W. Baird reissued a "neutral" rating and set a $374.00 price target (up from $345.00) on shares of Penumbra in a research report on Friday, January 16th. William Blair downgraded Penumbra from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 15th. Evercore reaffirmed an "outperform" rating and issued a $335.00 price objective on shares of Penumbra in a research report on Thursday. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $374.00 price objective on shares of Penumbra in a research report on Thursday, January 15th.

Insiders Place Their Bets

In other news, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the sale, the chief financial officer owned 18,353 shares of the company's stock, valued at $6,282,231.90. The trade was a 11.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harpreet Grewal sold 100 shares of Penumbra 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 completion of the sale, the director directly owned 8,719 shares of the company's stock, valued at approximately $2,861,750.18. This represents 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. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Penumbra

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its position in shares of Penumbra by 2.3% in the fourth quarter. Hsbc Holdings PLC now owns 1,527 shares of the company's stock valued at $475,000 after purchasing an additional 35 shares during the period. Farther Finance Advisors LLC boosted its holdings in Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company's stock valued at $55,000 after acquiring an additional 38 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Penumbra by 2.3% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company's stock valued at $537,000 after acquiring an additional 39 shares during the last quarter. Abbot Financial Management Inc. boosted its holdings in Penumbra by 1.3% in the third quarter. Abbot Financial Management Inc. now owns 3,254 shares of the company's stock valued at $824,000 after acquiring an additional 42 shares during the last quarter. Finally, Glenview Trust Co boosted its holdings in Penumbra by 5.0% in the third quarter. Glenview Trust Co now owns 904 shares of the company's stock valued at $229,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Stock Performance

Penumbra stock opened at $321.64 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. The stock has a fifty day moving average of $332.48 and a two-hundred day moving average of $317.06. The company has a market capitalization of $12.65 billion, a price-to-earnings ratio of 74.11, a PEG ratio of 1.97 and a beta of 0.74. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.24). The company had revenue of $374.76 million for the quarter, compared to analysts' expectations of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business's quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. On average, analysts anticipate that Penumbra will post 5.08 EPS for the current fiscal year.

Penumbra Company Profile

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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