Canaccord Genuity reaffirmed their buy rating on shares of Penumbra (NYSE:PEN) in a research note published on Wednesday morning. Canaccord Genuity currently has a $113.00 price objective on the stock.

A number of other brokerages have also recently weighed in on PEN. Zacks Investment Research raised shares of Penumbra from a sell rating to a hold rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. cut shares of Penumbra from an overweight rating to a neutral rating in a research note on Tuesday, January 2nd. Finally, BMO Capital Markets cut shares of Penumbra from an outperform rating to a market perform rating and dropped their price objective for the stock from $117.00 to $110.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Penumbra currently has a consensus rating of Hold and a consensus price target of $111.50.

Penumbra (PEN) opened at $100.65 on Wednesday. Penumbra has a 12 month low of $67.95 and a 12 month high of $116.35. The firm has a market cap of $3,397.25, a P/E ratio of -457.50, a PEG ratio of 107.25 and a beta of 0.16.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.07. Penumbra had a negative net margin of 2.19% and a negative return on equity of 1.95%. The business had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $79.17 million. During the same period last year, the company posted ($0.04) EPS. The company’s revenue was up 24.9% on a year-over-year basis. analysts anticipate that Penumbra will post -0.15 EPS for the current year.

In other Penumbra news, insider Daniel Donen Davis sold 30,000 shares of Penumbra stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $88.80, for a total value of $2,664,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert D. Evans sold 40,000 shares of Penumbra stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $89.89, for a total transaction of $3,595,600.00. Following the completion of the sale, the executive vice president now directly owns 11,704 shares of the company’s stock, valued at $1,052,072.56. The disclosure for this sale can be found here. Insiders sold a total of 345,026 shares of company stock valued at $35,069,882 over the last ninety days. 13.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its stake in Penumbra by 5.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 138,468 shares of the company’s stock worth $13,030,000 after acquiring an additional 6,884 shares during the period. Simplex Trading LLC grew its stake in Penumbra by 116.2% in the 4th quarter. Simplex Trading LLC now owns 1,911 shares of the company’s stock worth $179,000 after acquiring an additional 1,027 shares during the period. Pura Vida Investments LLC grew its stake in Penumbra by 19.2% in the 3rd quarter. Pura Vida Investments LLC now owns 59,579 shares of the company’s stock worth $5,380,000 after acquiring an additional 9,579 shares during the period. Neuberger Berman Group LLC grew its stake in Penumbra by 0.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 250,500 shares of the company’s stock worth $22,620,000 after acquiring an additional 2,000 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Penumbra in the 3rd quarter worth approximately $374,000. 71.71% of the stock is owned by hedge funds and other institutional investors.

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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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