Penumbra (NYSE:PEN) Stock Breaks Above 50-Day Moving Average - Should You Sell?

Key Points

• Penumbra shares briefly moved above their 50-day moving average, reaching $322.80 before trading near $320.92, while the stock was down 0.1%.
• Analyst sentiment is mixed but generally cautious: three analysts rate the stock a Buy and 14 rate it Hold, producing a consensus Hold rating and a $367.07 price target.
• Penumbra’s latest quarterly earnings missed expectations at $0.88 per share versus $1.16 expected, although revenue rose 14.9% year over year to $390.05 million. Institutional investors own a substantial 88.88% of the company.

Penumbra, Inc. (NYSE:PEN - Get Free Report)'s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $321.17 and traded as high as $322.80. Penumbra shares last traded at $320.9220, with a volume of 278,513 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Evercore restated an "outperform" rating and set a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Zacks Research upgraded shares of Penumbra from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Penumbra in a research note on Thursday. Three research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Penumbra presently has an average rating of "Hold" and a consensus target price of $367.07.

Penumbra Stock Down 0.1%

The company has a debt-to-equity ratio of 0.01, a current ratio of 5.75 and a quick ratio of 3.86. The company has a market cap of $12.64 billion, a P/E ratio of 78.85, a price-to-earnings-growth ratio of 2.21 and a beta of 0.70. The stock has a fifty day moving average price of $321.17 and a two-hundred day moving average price of $322.20.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.28). Penumbra had a return on equity of 10.50% and a net margin of 10.67%. The business had revenue of $390.05 million for the quarter, compared to the consensus estimate of $389.64 million. During the same quarter last year, the business posted $0.86 earnings per share. The business's revenue was up 14.9% compared to the same quarter last year. On average, research analysts expect that Penumbra, Inc. will post 4.96 EPS for the current year.

Institutional Investors Weigh In On Penumbra

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in Penumbra in the 2nd quarter worth about $3,454,000. Engineers Gate Manager LP boosted its holdings in Penumbra by 1,536.1% in the 2nd quarter. Engineers Gate Manager LP now owns 15,003 shares of the company's stock worth $4,737,000 after buying an additional 14,086 shares during the period. HBK Investments L P grew its stake in 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 buying an additional 204,247 shares in the last quarter. Sculptor Capital LP purchased a new position in Penumbra in the 1st quarter valued at approximately $18,717,000. Finally, Odyssean LLC lifted its position in shares of 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 acquiring an additional 4,932 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Company Profile

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat vascular conditions and other serious medical disorders. The company is best known for its minimally invasive technologies designed to remove blood clots, restore blood flow and support the treatment of neurovascular conditions, including ischemic stroke.

Its product portfolio includes aspiration and thrombectomy systems, embolization devices, access and delivery systems, and other technologies used by physicians in neurointerventional and peripheral vascular procedures.

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