Wall Street Zen Upgrades Penumbra (NYSE:PEN) to Hold

Penumbra (NYSE:PEN - Get Free Report) was upgraded by equities researchers at Wall Street Zen to a "hold" rating in a report issued on Saturday.

Several other equities analysts have also recently commented on PEN. Needham & Company LLC cut shares of Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, January 16th. Citigroup dropped their target price on shares of Penumbra from $374.00 to $350.00 and set a "neutral" rating for the company in a research report on Thursday. Robert W. Baird reaffirmed a "neutral" rating and set a $374.00 price target (up from $345.00) on shares of Penumbra in a report on Friday, January 16th. Royal Bank Of Canada lowered shares of Penumbra from an "outperform" rating to a "sector perform" rating and lifted their price target for the company from $355.00 to $374.00 in a report on Tuesday, January 20th. Finally, Evercore reaffirmed an "outperform" rating and set a $335.00 price target on shares of Penumbra in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $361.33.

Penumbra Price Performance

Shares of NYSE:PEN opened at $322.15 on Friday. The firm has a 50 day moving average of $333.22 and a 200-day moving average of $316.03. The stock has a market capitalization of $12.67 billion, a PE ratio of 74.23, a PEG ratio of 1.99 and a beta of 0.74. The company has a current ratio of 6.02, a quick ratio of 4.29 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.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Penumbra

A number of institutional investors have recently modified their holdings of PEN. Thrivent Financial for Lutherans lifted its position in shares of Penumbra by 13.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company's stock valued at $92,984,000 after acquiring an additional 44,185 shares during the period. New York State Common Retirement Fund lifted its position in shares of Penumbra by 8.7% during the 3rd quarter. New York State Common Retirement Fund now owns 82,849 shares of the company's stock valued at $20,987,000 after acquiring an additional 6,642 shares during the period. Intech Investment Management LLC lifted its position in shares of Penumbra by 13.3% during the 3rd quarter. Intech Investment Management LLC now owns 48,971 shares of the company's stock valued at $12,405,000 after acquiring an additional 5,749 shares during the period. Algert Global LLC lifted its position in shares of Penumbra by 38.8% during the 3rd quarter. Algert Global LLC now owns 45,875 shares of the company's stock valued at $11,621,000 after acquiring an additional 12,830 shares during the period. Finally, Citigroup Inc. lifted its position in shares of Penumbra by 75.9% during the 3rd quarter. Citigroup Inc. now owns 33,560 shares of the company's stock valued at $8,501,000 after acquiring an additional 14,477 shares during the period. 88.88% of the stock is owned by institutional investors.

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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