Penumbra (NYSE:PEN) Downgraded to Strong Sell Rating by Zacks Research

Penumbra (NYSE:PEN) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th. Citigroup lowered their price target on Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Evercore restated an “outperform” rating and issued a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $374.00 target price on shares of Penumbra in a research note on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $361.33.

Penumbra Trading Up 0.0%

NYSE:PEN opened at $315.56 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The stock’s 50-day moving average is $322.35 and its two-hundred day moving average is $329.47. The stock has a market cap of $12.41 billion, a PE ratio of 72.71, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71.

Penumbra (NYSE:PEN) last posted its quarterly earnings results 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 company had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. During the same period last year, the company earned $0.83 earnings per share. Penumbra’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities research analysts forecast that Penumbra will post 5.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction 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 owned 8,719 shares of the company’s stock, valued at $2,861,750.18. The trade was 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. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Penumbra

A number of institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC boosted its stake in 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 purchasing an additional 82 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Penumbra by 2,700.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Motiv8 Investments LLC bought a new stake in shares of Penumbra in the fourth quarter valued at approximately $27,000. Morse Asset Management Inc bought a new stake in shares of Penumbra in the fourth quarter valued at approximately $39,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Penumbra by 27.1% in the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after acquiring an additional 38 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Company Profile

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.