Wall Street Zen Upgrades Penumbra (NYSE:PEN) to Hold

Penumbra (NYSE:PEN) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday.

PEN has been the subject of several other reports. Robert W. Baird reaffirmed a “neutral” rating and set a $374.00 target price (up from $345.00) on shares of Penumbra in a report on Friday, January 16th. Leerink Partners lowered Penumbra from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Canaccord Genuity Group lowered Penumbra from a “buy” rating to a “hold” rating and upped their target price for the company from $359.00 to $374.00 in a report on Tuesday, January 20th. Truist Financial lowered Penumbra from a “buy” rating to a “hold” rating and upped their target price for the company from $370.00 to $374.00 in a report on Friday, January 16th. Finally, BTIG Research downgraded Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price objective for the company. in a research report on Thursday, January 15th. Three analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $361.33.

Penumbra Stock Down 0.0%

NYSE:PEN opened at $322.15 on Friday. The firm has a market capitalization of $12.67 billion, a PE ratio of 74.23, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74. The stock has a 50 day moving average of $333.22 and a 200-day moving average of $316.03. Penumbra has a 52 week low of $221.26 and a 52 week high of $362.41. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.24). The company had revenue of $374.76 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company posted $0.83 earnings per share. Analysts predict that Penumbra will post 5.08 EPS for the current year.

Insider Buying and Selling

In related news, CFO Maggie Yuen sold 2,432 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the transaction, the chief financial officer directly owned 18,353 shares of the company’s stock, valued at $6,282,231.90. This represents a 11.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harpreet Grewal sold 100 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $328.22, for a total value of $32,822.00. Following the completion of the transaction, the director directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Penumbra by 4,100.0% in the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 82 shares during the period. CIBC Private Wealth Group LLC lifted its position in Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Motiv8 Investments LLC acquired a new stake in Penumbra in the fourth quarter worth approximately $27,000. Morse Asset Management Inc acquired a new stake in Penumbra in the fourth quarter worth approximately $39,000. Finally, Rothschild Investment LLC acquired a new stake in Penumbra in the third quarter worth approximately $40,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

About Penumbra

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.