Penumbra, Inc. (NYSE:PEN) Stock Has Consensus Price Target of $367.07 According to Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned an average recommendation of “Hold” from the seventeen ratings firms that are covering the company, Marketbeat reports. Fourteen analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $367.07.

Several brokerages recently commented on PEN. Weiss Ratings raised shares of Penumbra from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th.

Penumbra Price Performance

Shares of PEN stock opened at $319.35 on Tuesday. The company has a market cap of $12.59 billion, a P/E ratio of 80.44, a P/E/G ratio of 2.19 and a beta of 0.71. The company has a quick ratio of 3.92, a current ratio of 5.89 and a debt-to-equity ratio of 0.01. Penumbra has a twelve month low of $259.14 and a twelve month high of $362.41. The business has a fifty day simple moving average of $320.29 and a 200 day simple moving average of $327.03.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.13). The company had revenue of $410.15 million during the quarter, compared to analyst estimates of $401.41 million. Penumbra had a net margin of 10.06% and a return on equity of 10.39%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.97 earnings per share. On average, sell-side analysts forecast that Penumbra will post 4.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Penumbra

Several hedge funds have recently added to or reduced their stakes in PEN. BlackRock Inc. bought a new stake in Penumbra during the second quarter valued at $1,356,953,000. Whitebox Advisors LLC acquired a new position in shares of Penumbra in the 1st quarter valued at about $146,125,000. Bank of America Corp DE acquired a new position in shares of Penumbra in the 2nd quarter valued at about $83,995,000. Amundi lifted its stake in shares of Penumbra by 302.9% in the 1st quarter. Amundi now owns 345,758 shares of the company’s stock valued at $113,537,000 after purchasing an additional 259,936 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Penumbra during the 2nd quarter valued at about $74,305,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

About Penumbra

Penumbra, Inc is a medical technology company that develops and markets devices for treating vascular conditions. Its products are used in neurovascular procedures, including the treatment of ischemic stroke and aneurysms, and in peripheral vascular procedures involving conditions such as pulmonary embolism and deep vein thrombosis.

The company’s offerings include aspiration and mechanical thrombectomy systems, embolization coils, and related catheter-based devices. Penumbra was founded in 2004 and is headquartered in Alameda, California.