Zacks: Penumbra, Inc. (PEN) Receives Consensus Rating of “Strong Buy” from Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have received an average broker rating score of 1.00 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy recommendation.

Analysts have set a one year consensus price target of $89.00 for the company and are predicting that the company will post ($0.05) EPS for the current quarter, according to Zacks. Zacks has also given Penumbra an industry rank of 181 out of 265 based on the ratings given to related companies.

A number of brokerages have issued reports on PEN. BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 price target on shares of Penumbra in a research note on Friday. Canaccord Genuity reaffirmed a “buy” rating and set a $94.00 price target on shares of Penumbra in a research note on Tuesday. Finally, Zacks Investment Research lowered Penumbra from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th.

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In other news, EVP Robert D. Evans sold 10,000 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $85.24, for a total transaction of $852,400.00. Following the completion of the sale, the executive vice president now directly owns 12,075 shares of the company’s stock, valued at approximately $1,029,273. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 22.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Penumbra during the fourth quarter valued at $3,484,000. State Board of Administration of Florida Retirement System raised its stake in Penumbra by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,245 shares of the company’s stock valued at $845,000 after buying an additional 120 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Penumbra by 1,123.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 155,452 shares of the company’s stock valued at $9,918,000 after buying an additional 142,744 shares in the last quarter. State Street Corp raised its stake in Penumbra by 9.4% in the fourth quarter. State Street Corp now owns 472,199 shares of the company’s stock valued at $30,130,000 after buying an additional 40,596 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in Penumbra by 52.9% in the fourth quarter. Federated Investors Inc. PA now owns 519,940 shares of the company’s stock valued at $33,172,000 after buying an additional 179,890 shares in the last quarter. 68.67% of the stock is owned by institutional investors and hedge funds.

Penumbra (NYSE:PEN) traded down 0.59% during mid-day trading on Tuesday, hitting $84.45. The company had a trading volume of 294,638 shares. The firm has a market cap of $2.84 billion, a P/E ratio of 302.69 and a beta of 0.15. The stock’s 50 day moving average price is $85.06 and its 200 day moving average price is $77.12. Penumbra has a 52-week low of $54.96 and a 52-week high of $90.00.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $73.21 million for the quarter, compared to the consensus estimate of $71.08 million. Penumbra had a negative net margin of 2.31% and a negative return on equity of 2.25%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 earnings per share. On average, equities research analysts predict that Penumbra will post ($0.13) EPS for the current fiscal year.

About Penumbra

Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.

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