Penumbra (NYSE:PEN) Stock Price Crosses Below Fifty Day Moving Average – What’s Next?

Shares of Penumbra, Inc. (NYSE:PEN) crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $320.79 and traded as low as $316.35. Penumbra shares last traded at $318.3630, with a volume of 851,286 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore reaffirmed an “outperform” rating and set a $320.00 price target on shares of Penumbra in a research note on Monday, July 6th. Zacks Research raised shares of Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Penumbra in a report on Thursday, October 15th. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, Penumbra currently has a consensus rating of “Hold” and a consensus price target of $367.07.

Penumbra Trading Down 1.8%

The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $320.79 and a 200-day moving average of $327.38. The stock has a market cap of $12.54 billion, a PE ratio of 78.22, a price-to-earnings-growth ratio of 2.23 and a beta of 0.70.

Penumbra (NYSE:PEN) last announced its earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). The company had revenue of $390.05 million for the quarter, compared to analyst estimates of $389.64 million. Penumbra had a net margin of 10.67% and a return on equity of 10.50%. Penumbra’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS. On average, analysts anticipate that Penumbra, Inc. will post 4.96 EPS for the current year.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Transmarket Holdings LP purchased a new stake in Penumbra during the 3rd quarter worth about $302,000. North Dakota State Investment Board raised its stake in Penumbra by 3.5% in the 3rd quarter. North Dakota State Investment Board now owns 1,166 shares of the company’s stock valued at $371,000 after purchasing an additional 39 shares during the last quarter. Radnor Capital Management LLC raised its stake in Penumbra by 31.5% in the 3rd quarter. Radnor Capital Management LLC now owns 4,233 shares of the company’s stock valued at $1,348,000 after purchasing an additional 1,013 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Penumbra by 12.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,112 shares of the company’s stock valued at $991,000 after purchasing an additional 349 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Penumbra by 31.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 366 shares of the company’s stock valued at $117,000 after purchasing an additional 87 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Company Profile

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.