Equities researchers at StockNews.com started coverage on shares of Penumbra (NYSE:PEN – Get Rating) in a note issued to investors on Wednesday. The brokerage set a “sell” rating on the stock.
A number of other analysts also recently weighed in on PEN. Royal Bank of Canada assumed coverage on shares of Penumbra in a report on Monday, July 18th. They set an “outperform” rating and a $195.00 price target for the company. BTIG Research reaffirmed a “buy” rating and set a $239.00 price target (up previously from $213.00) on shares of Penumbra in a report on Friday, September 16th. TheStreet downgraded shares of Penumbra from a “c-” rating to a “d+” rating in a research note on Tuesday, July 12th. Truist Financial increased their price objective on shares of Penumbra from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 13th. Finally, Citigroup downgraded shares of Penumbra from a “buy” rating to a “neutral” rating and increased their price objective for the company from $170.00 to $217.00 in a research note on Wednesday, October 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.73.
Shares of NYSE:PEN traded down $1.17 on Wednesday, reaching $184.41. 571 shares of the company’s stock were exchanged, compared to its average volume of 273,916. The company has a fifty day moving average of $179.52 and a 200-day moving average of $162.65. Penumbra has a twelve month low of $114.86 and a twelve month high of $290.36. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of -356.88 and a beta of 0.54. The company has a current ratio of 4.93, a quick ratio of 2.90 and a debt-to-equity ratio of 0.03.
Penumbra (NYSE:PEN – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. Penumbra had a negative net margin of 2.40% and a positive return on equity of 0.97%. The firm had revenue of $208.30 million for the quarter, compared to analyst estimates of $206.24 million. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue was up 13.0% compared to the same quarter last year. On average, research analysts predict that Penumbra will post 0.25 EPS for the current fiscal year.
In other Penumbra news, EVP Johanna Roberts sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $175.04, for a total value of $297,568.00. Following the completion of the transaction, the executive vice president now directly owns 55,496 shares in the company, valued at approximately $9,714,019.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 9,300 shares of company stock worth $1,650,739. 5.50% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PEN. Polaris Wealth Advisory Group LLC increased its position in shares of Penumbra by 11.7% during the third quarter. Polaris Wealth Advisory Group LLC now owns 3,432 shares of the company’s stock worth $620,000 after buying an additional 360 shares during the period. Verition Fund Management LLC increased its position in shares of Penumbra by 248.0% during the second quarter. Verition Fund Management LLC now owns 4,044 shares of the company’s stock worth $504,000 after buying an additional 2,882 shares during the period. Captrust Financial Advisors increased its position in shares of Penumbra by 44.1% during the second quarter. Captrust Financial Advisors now owns 219 shares of the company’s stock worth $27,000 after buying an additional 67 shares during the period. Legal & General Group Plc increased its position in shares of Penumbra by 10.0% during the second quarter. Legal & General Group Plc now owns 69,668 shares of the company’s stock worth $8,675,000 after buying an additional 6,305 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Penumbra by 9.1% during the second quarter. Goldman Sachs Group Inc. now owns 239,301 shares of the company’s stock worth $29,797,000 after buying an additional 20,049 shares during the period. 81.65% of the stock is currently owned by institutional investors and hedge funds.