Penumbra, Inc. (NYSE:PEN) Stock Rated “Hold” by Sell-Side Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned a consensus rating of “Hold” from the seventeen brokerages that are currently covering the stock, MarketBeat.com reports. Fourteen investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $367.07.

A number of brokerages recently issued reports on PEN. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research note on Thursday. Evercore reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a research report on Monday, July 6th. Finally, Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th.

Penumbra Price Performance

PEN stock opened at $321.49 on Friday. Penumbra has a 12 month low of $221.26 and a 12 month high of $362.41. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $321.25 and a 200 day moving average price of $322.21. The stock has a market cap of $12.66 billion, a PE ratio of 78.99, a P/E/G ratio of 2.20 and a beta of 0.70.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.28). The firm had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. Equities research analysts anticipate that Penumbra will post 4.96 earnings per share for the current year.

Institutional Investors Weigh In On Penumbra

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PEN. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Penumbra in the second quarter valued at approximately $25,000. Keating Financial Advisory Services Inc. bought a new stake in Penumbra during the 2nd quarter valued at $31,000. MassMutual Private Wealth & Trust FSB raised its position in Penumbra by 48.7% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 116 shares of the company’s stock valued at $37,000 after purchasing an additional 38 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Penumbra by 1,066.7% in the 3rd quarter. CoreCap Advisors LLC now owns 140 shares of the company’s stock worth $45,000 after buying an additional 128 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Penumbra in the 2nd quarter worth $51,000. Institutional investors own 88.88% of the company’s stock.

About Penumbra

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.