Penumbra (NYSE:PEN) Rating Lowered to Hold at Wall Street Zen

Key Points

• Penumbra's rating was downgraded from "buy" to "hold" by Wall Street Zen, reflecting a cautious outlook from analysts.
• Despite the downgrade, several analysts have issued positive ratings, with an average price target of $302.93 and one analyst giving a "Strong Buy" rating.
• In its last earnings report, Penumbra exceeded estimates with $0.86 earnings per share and reported a revenue increase of 13.4% year-over-year.

Penumbra (NYSE:PEN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Other analysts have also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Citigroup reduced their price target on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Robert W. Baird increased their target price on shares of Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Wells Fargo & Company decreased their price target on shares of Penumbra from $315.00 to $290.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, Canaccord Genuity Group set a $350.00 price objective on shares of Penumbra and gave the company a "buy" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $302.93.

Penumbra Trading Up 1.8%

Penumbra stock traded up $4.44 during mid-day trading on Friday, reaching $253.64. 193,051 shares of the company traded hands, compared to its average volume of 454,956. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The firm's 50 day moving average price is $255.51 and its 200 day moving average price is $263.58. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 67.46, a P/E/G ratio of 2.25 and a beta of 0.45. Penumbra has a 52-week low of $186.96 and a 52-week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The business had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, analysts anticipate that Penumbra will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other news, Director Harpreet Grewal sold 186 shares of Penumbra stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $272.19, for a total value of $50,627.34. Following the sale, the director directly owned 8,888 shares of the company's stock, valued at $2,419,224.72. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total value of $500,000.00. Following the completion of the sale, the chief financial officer directly owned 12,943 shares in the company, valued at $3,235,750. This represents a 13.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,223 shares of company stock valued at $23,892,820. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Synergy Investment Management LLC acquired a new position in Penumbra during the first quarter worth $27,000. First Horizon Advisors Inc. boosted its stake in Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after buying an additional 85 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Penumbra during the second quarter worth $30,000. Parkside Financial Bank & Trust boosted its stake in Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company's stock worth $41,000 after buying an additional 66 shares during the last quarter. Finally, State of Wyoming acquired a new position in Penumbra during the second quarter worth $64,000. Institutional investors and hedge funds own 88.88% of the company's stock.

About Penumbra

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.

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