Zacks: Penumbra Inc (PEN) Given Average Rating of “Buy” by Analysts

Shares of Penumbra Inc (NYSE:PEN) have been given a consensus broker rating score of 1.80 (Buy) from the five brokers that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating and three have issued a strong buy rating on the company. Penumbra’s rating score has declined by 80% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 12-month consensus target price of $113.60 for the company and are expecting that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Penumbra an industry rank of 158 out of 265 based on the ratings given to its competitors.

A number of equities research analysts recently issued reports on PEN shares. JPMorgan Chase & Co. cut shares of Penumbra from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 2nd. Zacks Investment Research raised shares of Penumbra from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Canaccord Genuity lifted their price target on shares of Penumbra from $100.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, BMO Capital Markets lifted their price target on shares of Penumbra from $96.00 to $117.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th.

In other Penumbra news, CEO Adam Elsesser sold 24,444 shares of Penumbra stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $105.83, for a total transaction of $2,586,908.52. Following the sale, the chief executive officer now owns 1,231,338 shares of the company’s stock, valued at approximately $130,312,500.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Arani Bose sold 16,452 shares of Penumbra stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $105.89, for a total transaction of $1,742,102.28. Following the sale, the insider now directly owns 728,680 shares in the company, valued at approximately $77,159,925.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 309,026 shares of company stock worth $31,859,942. 13.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Simplex Trading LLC boosted its stake in Penumbra by 116.2% during the 4th quarter. Simplex Trading LLC now owns 1,911 shares of the company’s stock worth $179,000 after purchasing an additional 1,027 shares during the last quarter. Pura Vida Investments LLC boosted its stake in Penumbra by 19.2% during the 3rd quarter. Pura Vida Investments LLC now owns 59,579 shares of the company’s stock worth $5,380,000 after purchasing an additional 9,579 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Penumbra by 0.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 250,500 shares of the company’s stock worth $22,620,000 after purchasing an additional 2,000 shares during the last quarter. Jane Street Group LLC acquired a new stake in Penumbra during the 3rd quarter worth $374,000. Finally, Royce & Associates LP raised its holdings in shares of Penumbra by 50.0% during the 3rd quarter. Royce & Associates LP now owns 15,000 shares of the company’s stock worth $1,355,000 after acquiring an additional 5,000 shares during the period. 71.71% of the stock is currently owned by institutional investors.

Penumbra (PEN) traded down $3.95 during trading on Friday, reaching $87.20. 358,907 shares of the company were exchanged, compared to its average volume of 246,906. Penumbra has a 1 year low of $67.95 and a 1 year high of $116.35. The firm has a market cap of $2,960.00 and a PE ratio of 415.24.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Penumbra had a negative net margin of 2.19% and a negative return on equity of 1.95%. The firm had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $79.17 million. During the same quarter last year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. sell-side analysts anticipate that Penumbra will post -0.15 EPS for the current fiscal year.

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Penumbra Company Profile

Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.

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