Penumbra (NYSE:PEN) Raised to “Hold” at Zacks Research

Penumbra (NYSE:PEN) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on PEN. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Citigroup lowered their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Wall Street Zen upgraded Penumbra to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, June 11th. Finally, Evercore reissued an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $367.07.

Penumbra Stock Up 0.3%

Shares of NYSE PEN opened at $324.61 on Monday. The firm has a market cap of $12.79 billion, a P/E ratio of 79.76, a price-to-earnings-growth ratio of 2.01 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. Penumbra has a 1 year low of $221.26 and a 1 year high of $362.41. The firm’s 50 day moving average price is $320.38 and its 200 day moving average price is $327.16.

Penumbra (NYSE:PEN) last posted 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 business had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.Penumbra’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS. As a group, sell-side analysts anticipate that Penumbra will post 5.02 earnings per share for the current year.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently bought and sold shares of the business. New York Life Investment Management LLC bought a new stake in shares of Penumbra during the 4th quarter worth about $999,000. Stephens Investment Management Group LLC acquired a new position in shares of Penumbra during the 4th quarter valued at $37,563,000. Simplify Asset Management Inc. lifted its holdings in shares of Penumbra by 89.7% in the fourth quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company’s stock valued at $4,921,000 after buying an additional 7,485 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new stake in Penumbra in the fourth quarter worth about $2,091,000. Finally, Sculptor Capital LP bought a new position in shares of Penumbra during the 1st quarter valued at about $18,717,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.