Penumbra, Inc. (NYSE:PEN) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Penumbra, Inc. (NYSE:PEN) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other brokerages also recently commented on PEN. Zacks Investment Research downgraded shares of Penumbra from a hold rating to a sell rating in a report on Thursday, May 11th. Canaccord Genuity reiterated a buy rating and set a $94.00 price target on shares of Penumbra in a report on Tuesday, June 13th. Finally, BMO Capital Markets reiterated a buy rating and set a $96.00 price target on shares of Penumbra in a report on Friday, June 16th.

Shares of Penumbra (NYSE:PEN) opened at 83.20 on Friday. The stock has a market cap of $2.80 billion, a PE ratio of 298.21 and a beta of 0.10. Penumbra has a 1-year low of $56.05 and a 1-year high of $91.00. The stock has a 50 day moving average of $85.98 and a 200 day moving average of $81.87.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $73.21 million for the quarter, compared to analysts’ expectations of $71.08 million. Penumbra had a negative return on equity of 2.25% and a negative net margin of 2.31%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. Equities research analysts forecast that Penumbra will post ($0.13) EPS for the current year.

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In related news, Director Thomas Wilder sold 345 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $86.10, for a total value of $29,704.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Donen Davis sold 32,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total transaction of $2,541,440.00. The disclosure for this sale can be found here. 22.00% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new stake in Penumbra during the first quarter worth about $194,000. Simplex Trading LLC increased its stake in Penumbra by 11.5% in the first quarter. Simplex Trading LLC now owns 2,565 shares of the company’s stock worth $214,000 after buying an additional 265 shares during the last quarter. FNY Partners Fund LP bought a new stake in Penumbra during the first quarter worth about $223,000. Prudential Financial Inc. bought a new stake in Penumbra during the second quarter worth about $252,000. Finally, Rathbone Brothers plc bought a new stake in Penumbra during the first quarter worth about $250,000. Hedge funds and other institutional investors own 69.01% of the company’s stock.

Penumbra Company Profile

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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