Penumbra’s (PEN) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

Penumbra (NYSE:PEN – Get Free Report)‘s stock had its “sector perform” rating restated by investment analysts at Royal Bank Of Canada in a report released on Thursday,Benzinga reports. They currently have a $374.00 price target on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 17.73% from the stock’s previous close.

A number of other equities research analysts have also issued reports on PEN. Evercore reaffirmed an “outperform” rating and issued a $335.00 target price on shares of Penumbra in a research note on Thursday, May 7th. Citigroup dropped their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. UBS Group reissued a “neutral” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, February 26th. Finally, Wall Street Zen raised Penumbra to a “hold” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $361.33.

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Penumbra Price Performance

NYSE PEN traded down $0.64 during trading hours on Thursday, reaching $317.68. The company’s stock had a trading volume of 45,529 shares, compared to its average volume of 778,160. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.95 and a current ratio of 6.02. The company’s 50-day moving average is $325.89 and its two-hundred day moving average is $327.39. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The stock has a market cap of $12.49 billion, a PE ratio of 73.24, a PEG ratio of 1.96 and a beta of 0.71.

Penumbra (NYSE:PEN – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.24). The business had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the company earned $0.83 EPS. Analysts forecast that Penumbra will post 5.08 EPS for the current year.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the transaction, the director owned 8,719 shares of the company’s stock, valued at $2,861,750.18. This trade represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Penumbra

A number of institutional investors and hedge funds have recently made changes to their positions in PEN. Intech Investment Management LLC raised its holdings in shares of Penumbra by 13.3% in the 3rd quarter. Intech Investment Management LLC now owns 48,971 shares of the company’s stock worth $12,405,000 after purchasing an additional 5,749 shares during the period. Algert Global LLC grew its holdings in shares of Penumbra by 38.8% during the 3rd quarter. Algert Global LLC now owns 45,875 shares of the company’s stock worth $11,621,000 after purchasing an additional 12,830 shares during the period. Citigroup Inc. increased its position in Penumbra by 75.9% during the 3rd quarter. Citigroup Inc. now owns 33,560 shares of the company’s stock worth $8,501,000 after purchasing an additional 14,477 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Penumbra during the 3rd quarter worth approximately $1,028,000. Finally, NZS Capital LLC raised its holdings in Penumbra by 24.9% in the third quarter. NZS Capital LLC now owns 86,984 shares of the company’s stock valued at $22,035,000 after buying an additional 17,355 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Company Profile

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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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