Penumbra Inc (NYSE:PEN) Given Average Rating of “Buy” by Brokerages

Penumbra Inc (NYSE:PEN) has received a consensus recommendation of “Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $164.17.

Several research firms recently issued reports on PEN. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Bank of America set a $10.00 price objective on shares of HEXO and gave the company a “buy” rating in a research note on Thursday, June 13th. ValuEngine raised shares of YY from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. raised shares of China Life Insurance from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 30th. They noted that the move was a valuation call. Finally, William Blair began coverage on shares of Penumbra in a research note on Tuesday, May 21st. They issued an “outperform” rating for the company.

In other Penumbra news, Director Bridget O’rourke sold 175 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $160.67, for a total transaction of $28,117.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Elsesser sold 8,000 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $171.84, for a total transaction of $1,374,720.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,412 shares of company stock valued at $5,931,648. Company insiders own 9.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Botty Investors LLC acquired a new position in Penumbra during the 1st quarter worth $29,000. Manchester Capital Management LLC bought a new position in shares of Penumbra during the 1st quarter worth about $30,000. Gemmer Asset Management LLC increased its holdings in shares of Penumbra by 1,005.1% during the 1st quarter. Gemmer Asset Management LLC now owns 431 shares of the company’s stock worth $63,000 after purchasing an additional 392 shares during the period. Machina Capital S.A.S. bought a new position in shares of Penumbra during the 2nd quarter worth about $155,000. Finally, CENTRAL TRUST Co bought a new position in shares of Penumbra during the 2nd quarter worth about $171,000. 90.22% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:PEN opened at $179.49 on Wednesday. The company has a quick ratio of 4.34, a current ratio of 6.10 and a debt-to-equity ratio of 0.11. Penumbra has a 12-month low of $110.84 and a 12-month high of $185.70. The firm’s fifty day moving average is $168.78. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 351.94, a P/E/G ratio of 9.61 and a beta of 0.65.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.10. Penumbra had a net margin of 2.51% and a return on equity of 5.84%. The business had revenue of $128.44 million during the quarter, compared to analyst estimates of $123.09 million. During the same quarter in the previous year, the business earned $0.15 EPS. Penumbra’s quarterly revenue was up 25.1% compared to the same quarter last year. Sell-side analysts expect that Penumbra will post 0.87 earnings per share for the current year.

About Penumbra

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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Analyst Recommendations for Penumbra (NYSE:PEN)

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