Penumbra, Inc. (NYSE:PEN) Receives $367.07 Average Price Target from Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned an average recommendation of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat reports. Fourteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $367.0714.

A number of research analysts recently commented on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th. Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a report on Monday. Wall Street Zen upgraded Penumbra to a “hold” rating in a research report on Saturday, May 9th. Finally, Evercore reissued an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a report on Monday, July 6th.

Penumbra Price Performance

PEN stock opened at $323.36 on Thursday. The business has a 50 day moving average price of $320.53 and a 200 day moving average price of $327.04. The company has a quick ratio of 3.86, a current ratio of 5.75 and a debt-to-equity ratio of 0.01. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 2.01 and a beta of 0.70. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.28). The company had revenue of $390.05 million during the quarter, compared to analysts’ expectations of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Equities research analysts anticipate that Penumbra will post 5.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Penumbra in the second quarter valued at approximately $25,000. Larson Financial Group LLC raised its position in Penumbra by 4,100.0% in the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Penumbra by 2,700.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Motiv8 Investments LLC acquired a new stake in Penumbra during the 4th quarter worth $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Penumbra during the 2nd quarter worth $31,000. Hedge funds and other institutional investors 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.