Penumbra (NYSE:PEN) has been given an average rating of “Buy” by the eight brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $130.75.
PEN has been the topic of a number of recent analyst reports. JPMorgan Chase cut shares of Penumbra from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Zacks Investment Research raised shares of Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. William Blair initiated coverage on shares of Penumbra in a research report on Wednesday, February 21st. They set an “outperform” rating on the stock. Wells Fargo increased their price target on shares of Penumbra from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, Canaccord Genuity reissued a “buy” rating and set a $125.00 price target on shares of Penumbra in a research report on Thursday, April 5th.
NYSE PEN traded down $2.05 during trading hours on Thursday, reaching $122.10. The company had a trading volume of 114,812 shares, compared to its average volume of 292,971. Penumbra has a 1-year low of $77.75 and a 1-year high of $127.40. The stock has a market capitalization of $4,237.36, a P/E ratio of -12,210.00, a PEG ratio of 45.15 and a beta of 0.01.
Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 27th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.11. Penumbra had a net margin of 1.40% and a negative return on equity of 0.23%. The company had revenue of $96.05 million for the quarter, compared to analysts’ expectations of $87.69 million. equities research analysts anticipate that Penumbra will post 0.14 EPS for the current fiscal year.
In other news, insider Daniel Donen Davis sold 30,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $88.80, for a total transaction of $2,664,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Don W. Kassing sold 2,000 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $100.94, for a total transaction of $201,880.00. Following the sale, the director now directly owns 2,648 shares in the company, valued at approximately $267,289.12. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock worth $6,062,277 in the last three months. Corporate insiders own 13.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Penumbra by 45.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,691 shares of the company’s stock valued at $159,000 after acquiring an additional 532 shares in the last quarter. Simplex Trading LLC raised its holdings in Penumbra by 116.2% in the fourth quarter. Simplex Trading LLC now owns 1,911 shares of the company’s stock valued at $179,000 after acquiring an additional 1,027 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Penumbra in the fourth quarter valued at approximately $189,000. Aperio Group LLC acquired a new stake in Penumbra in the fourth quarter valued at approximately $236,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in Penumbra in the fourth quarter valued at approximately $269,000. 73.41% of the stock is currently owned by hedge funds and other institutional investors.
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Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
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