Penumbra, Inc. (NYSE:PEN) Receives $367.07 Consensus PT from Brokerages

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

Several analysts recently issued reports on PEN shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Evercore reissued an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a research report on Monday, July 6th. Finally, Zacks Research upgraded shares of Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th.

Institutional Trading of Penumbra

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Penumbra in the 2nd quarter valued at approximately $1,356,953,000. Whitebox Advisors LLC bought a new position in Penumbra during the first quarter worth $146,125,000. Artisan Partners Limited Partnership lifted its stake in Penumbra by 165.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock worth $184,715,000 after purchasing an additional 370,636 shares during the last quarter. William Blair Investment Management LLC bought a new position in Penumbra during the fourth quarter worth $107,567,000. Finally, Bank of America Corp DE acquired a new position in Penumbra in the second quarter worth $83,995,000. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Performance

Shares of PEN opened at $318.84 on Monday. The business’s 50 day moving average is $321.56 and its two-hundred day moving average is $325.01. Penumbra has a 52-week low of $221.26 and a 52-week high of $362.41. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 78.34, a PEG ratio of 2.19 and a beta of 0.70. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last released its earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.28). Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The business had revenue of $390.05 million for the quarter, compared to analysts’ expectations of $389.64 million. During the same quarter last year, the company posted $0.86 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts forecast that Penumbra will post 4.96 EPS for the current fiscal year.

About Penumbra

Penumbra, Inc (NYSE:PEN) is a medical device company that develops, manufactures and markets products designed to treat neurovascular, vascular and other medical conditions. Its technologies are used by physicians in minimally invasive procedures, including the removal of blood clots, treatment of aneurysms and management of vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for ischemic stroke and pulmonary embolism, embolization devices for aneurysms and other vascular conditions, and access and peripheral vascular products.