Penumbra, Inc. (NYSE:PEN) Receives $367.07 Consensus Price Target from Brokerages

Penumbra, Inc. (NYSE:PENGet Free Report) has earned an average rating of “Hold” from the seventeen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $367.0714.

A number of research firms recently issued reports on PEN. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $374.00 target price on shares of Penumbra in a report on Thursday, June 11th. Zacks Research downgraded shares of Penumbra from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Evercore reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of Penumbra in a research note on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Finally, Citigroup dropped their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th.

Read Our Latest Analysis on Penumbra

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PEN. Royal Bank of Canada lifted its position in shares of Penumbra by 35.8% during the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after acquiring an additional 5,092 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Penumbra by 209.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after acquiring an additional 184 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Penumbra by 22.3% in the 2nd quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after acquiring an additional 1,829 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Penumbra by 7.9% during the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after purchasing an additional 4,491 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Penumbra during the second quarter worth $1,137,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of NYSE PEN opened at $325.14 on Thursday. Penumbra has a 1 year low of $221.26 and a 1 year high of $362.41. The firm has a market cap of $12.81 billion, a P/E ratio of 79.89, a PEG ratio of 2.02 and a beta of 0.70. The stock has a fifty day moving average price of $320.14 and a two-hundred day moving average price of $327.71. 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 (NYSE:PENGet Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). The firm had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. Research analysts forecast that Penumbra will post 5.02 EPS for the current fiscal year.

About Penumbra

(Get Free Report)

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.

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Analyst Recommendations for Penumbra (NYSE:PEN)

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