Penumbra, Inc. (NYSE:PEN) Receives $367.07 Consensus Price Target from Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have received an average rating of “Hold” from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $367.0714.

A number of equities research analysts have recently weighed in on the stock. Evercore restated an “outperform” rating and issued a $320.00 price target on shares of Penumbra in a research note on Monday, July 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Royal Bank Of Canada restated a “sector perform” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, June 11th. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research report on Saturday, May 9th. Finally, Citigroup dropped their target price on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th.

Penumbra Stock Down 0.4%

NYSE PEN opened at $323.75 on Thursday. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 79.54, a PEG ratio of 2.02 and a beta of 0.70. Penumbra has a 1-year low of $221.26 and a 1-year high of $362.41. The company has a current ratio of 5.75, a quick ratio of 3.86 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $320.26 and a 200-day moving average of $327.27.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). The company had revenue of $390.05 million during the quarter, compared to the consensus estimate of $389.64 million. Penumbra had a return on equity of 10.50% and a net margin of 10.67%.The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. On average, equities research analysts expect that Penumbra will post 5.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after acquiring an additional 5,092 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after purchasing an additional 184 shares during the last quarter. Cerity Partners LLC grew its position in Penumbra by 22.3% during the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock valued at $2,574,000 after buying an additional 1,829 shares during the period. California Public Employees Retirement System grew its position in shares of Penumbra by 7.9% during the 2nd quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock valued at $15,661,000 after acquiring an additional 4,491 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in Penumbra during the second quarter valued at $1,137,000. 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.