Shares of Penumbra, Inc. (NYSE:PEN – Get Free Report) have been assigned an average recommendation of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat Ratings reports. Fourteen research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $367.0714.
A number of analysts have recently commented on the company. Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Evercore reaffirmed an “outperform” rating and set a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a report on Friday, July 17th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a research report on Thursday, June 11th.
Penumbra Stock Performance
Penumbra (NYSE:PEN – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The company had revenue of $390.05 million during the quarter, compared to analyst estimates of $389.64 million. During the same quarter last year, the company posted $0.86 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Analysts forecast that Penumbra will post 4.96 EPS for the current fiscal year.
Institutional Trading of Penumbra
Several hedge funds have recently added to or reduced their stakes in PEN. Public Employees Retirement System of Ohio purchased a new position in Penumbra during the second quarter valued at $3,454,000. New York Life Investment Management LLC purchased a new stake in Penumbra during the 4th quarter valued at $999,000. Simplify Asset Management Inc. boosted its position in Penumbra by 89.7% in the fourth quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company’s stock worth $4,921,000 after purchasing an additional 7,485 shares during the last quarter. Alberta Investment Management Corp bought a new position in Penumbra in the second quarter worth approximately $10,458,000. Finally, Stephens Investment Management Group LLC purchased a new stake in Penumbra in the fourth quarter worth about $37,563,000. Institutional investors own 88.88% of the company’s stock.
About Penumbra
Penumbra, Inc (NYSE:PEN) is a medical device company that develops, manufactures and markets products designed to treat neurovascular, vascular and other medical conditions. Its technologies are used by physicians in minimally invasive procedures, including the removal of blood clots, treatment of aneurysms and management of vascular disorders.
The company’s product portfolio includes aspiration and mechanical thrombectomy systems for ischemic stroke and pulmonary embolism, embolization devices for aneurysms and other vascular conditions, and access and peripheral vascular products.
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