Brokerages Set Penumbra, Inc. (NYSE:PEN) PT at $360.33

Penumbra, Inc. (NYSE:PEN) has earned a consensus recommendation of “Hold” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $367.0714.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Friday, July 17th. Wall Street Zen upgraded Penumbra to a “hold” rating in a research note on Saturday, May 9th. Evercore reissued an “outperform” rating and set a $320.00 price target on shares of Penumbra in a research report on Monday, July 6th. Citigroup lowered their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Zacks Research cut Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th.

Penumbra Price Performance

NYSE:PEN opened at $320.09 on Friday. Penumbra has a 52 week low of $221.26 and a 52 week high of $362.41. 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 firm’s 50-day simple moving average is $318.89 and its 200 day simple moving average is $330.09. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 73.75, a P/E/G ratio of 1.98 and a beta of 0.70.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The business had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. During the same period in the prior year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts predict that Penumbra will post 5.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PEN. SG Americas Securities LLC grew its stake in Penumbra by 144.4% during the fourth quarter. SG Americas Securities LLC now owns 11,111 shares of the company’s stock worth $3,455,000 after buying an additional 6,564 shares in the last quarter. Stephens Investment Management Group LLC acquired a new position in shares of Penumbra in the 4th quarter valued at approximately $37,563,000. New York Life Investment Management LLC acquired a new position in shares of Penumbra in the 4th quarter valued at approximately $999,000. Simplify Asset Management Inc. lifted its holdings in shares of Penumbra by 89.7% during the 4th quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company’s stock worth $4,921,000 after acquiring an additional 7,485 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Penumbra during the 4th quarter worth approximately $2,091,000. Institutional investors own 88.88% of the company’s stock.

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.