Penumbra (NYSE:PEN) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Penumbra (NYSE:PEN) to a hold rating in a research report report published on Saturday.

PEN has been the subject of a number of other reports. Truist Financial downgraded shares of Penumbra from a “buy” rating to a “hold” rating and upped their price objective for the stock from $370.00 to $374.00 in a research report on Friday, January 16th. Leerink Partners downgraded shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Royal Bank Of Canada downgraded shares of Penumbra from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $355.00 to $374.00 in a research report on Tuesday, January 20th. Evercore reaffirmed an “outperform” rating and issued a $335.00 price objective on shares of Penumbra in a research report on Thursday. Finally, BTIG Research downgraded shares of 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 equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $361.33.

Penumbra Trading Down 0.8%

Shares of PEN stock opened at $322.15 on Friday. Penumbra has a 52-week low of $221.26 and a 52-week high of $362.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.29 and a current ratio of 6.02. The company has a 50-day simple moving average of $333.22 and a two-hundred day simple moving average of $316.03. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 74.23, a PEG ratio of 1.97 and a beta of 0.74.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The firm had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Research analysts anticipate that Penumbra will post 5.08 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 completion of the transaction, the director directly owned 8,719 shares of the company’s stock, valued at $2,861,750.18. This represents a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total transaction of $832,473.60. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PEN. Larson Financial Group LLC grew its position in shares of Penumbra by 4,100.0% during the 4th quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Penumbra by 2,700.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Motiv8 Investments LLC bought a new position in shares of Penumbra during the 4th quarter valued at approximately $27,000. Morse Asset Management Inc bought a new position in shares of Penumbra during the 4th quarter valued at approximately $39,000. Finally, Rothschild Investment LLC bought a new position in shares of Penumbra during the 3rd quarter valued at approximately $40,000. 88.88% of the stock is owned by institutional investors.

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.