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

Penumbra, Inc. (NYSE:PEN) has received a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the company, MarketBeat.com reports. Fourteen research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $367.07.

Several equities research analysts have weighed in on the stock. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Weiss Ratings raised shares of Penumbra from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 30th.

Institutional Trading of Penumbra

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Penumbra during the 2nd quarter valued at approximately $1,356,953,000. HBK Investments L P grew its holdings in shares of Penumbra by 12.5% during the 2nd quarter. HBK Investments L P now owns 1,838,508 shares of the company’s stock worth $580,509,000 after acquiring an additional 204,247 shares during the period. Whitebox Advisors LLC purchased a new position in shares of Penumbra during the 1st quarter worth approximately $146,125,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Penumbra by 130.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 400,160 shares of the company’s stock worth $131,401,000 after acquiring an additional 226,314 shares during the period. Finally, Amundi raised its position in shares of Penumbra by 302.9% in the 1st quarter. Amundi now owns 345,758 shares of the company’s stock worth $113,537,000 after acquiring an additional 259,936 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Stock Performance

NYSE:PEN opened at $321.11 on Tuesday. The firm has a market cap of $12.65 billion, a PE ratio of 80.88, a price-to-earnings-growth ratio of 2.22 and a beta of 0.71. Penumbra has a fifty-two week low of $258.59 and a fifty-two week high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.92 and a current ratio of 5.89. The business has a 50 day moving average price of $320.33 and a 200-day moving average price of $327.21.

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

About Penumbra

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat patients with vascular conditions. Its technologies are primarily designed for minimally invasive procedures in the neurovascular and peripheral vascular markets, including the treatment of ischemic stroke, brain aneurysms and other vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for removing blood clots, embolization devices for blocking abnormal blood flow, and access and delivery products used during endovascular procedures.