Zacks: Penumbra, Inc. (PEN) Receives Consensus Rating of “Strong Buy” from Analysts
Penumbra, Inc. (NYSE:PEN) has been given a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus target price of $89.00 for the company and are expecting that the company will post ($0.05) earnings per share for the current quarter, according to Zacks. Zacks has also given Penumbra an industry rank of 181 out of 265 based on the ratings given to its competitors.
Several research firms have commented on PEN. Canaccord Genuity reaffirmed a “buy” rating and set a $91.00 price objective on shares of Penumbra in a research note on Monday, March 27th. Zacks Investment Research lowered shares of Penumbra from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $96.00 price objective on shares of Penumbra in a research note on Wednesday, May 10th.
In other Penumbra news, EVP Robert D. Evans sold 10,000 shares of Penumbra stock in a transaction on Monday, April 24th. The shares were sold at an average price of $85.24, for a total transaction of $852,400.00. Following the completion of the transaction, the executive vice president now directly owns 12,075 shares of the company’s stock, valued at $1,029,273. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 22.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PEN. Suntrust Banks Inc. raised its position in Penumbra by 1.8% in the first quarter. Suntrust Banks Inc. now owns 3,922 shares of the company’s stock valued at $327,000 after buying an additional 71 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Penumbra by 0.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,245 shares of the company’s stock valued at $845,000 after buying an additional 120 shares during the last quarter. Principal Financial Group Inc. raised its position in Penumbra by 0.9% in the first quarter. Principal Financial Group Inc. now owns 13,031 shares of the company’s stock valued at $1,087,000 after buying an additional 121 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Penumbra by 0.3% in the first quarter. TIAA CREF Investment Management LLC now owns 72,827 shares of the company’s stock valued at $6,077,000 after buying an additional 227 shares during the last quarter. Finally, Simplex Trading LLC raised its position in Penumbra by 11.5% in the first quarter. Simplex Trading LLC now owns 2,565 shares of the company’s stock valued at $214,000 after buying an additional 265 shares during the last quarter. 68.67% of the stock is owned by institutional investors.
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Penumbra (NYSE PEN) traded down 0.59% during midday trading on Tuesday, reaching $84.45. 294,638 shares of the company were exchanged. The firm has a market capitalization of $2.84 billion, a PE ratio of 302.69 and a beta of 0.15. Penumbra has a 52 week low of $54.96 and a 52 week high of $90.00. The company has a 50-day moving average of $85.06 and a 200 day moving average of $77.12.
Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, May 9th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.04. Penumbra had a negative net margin of 2.31% and a negative return on equity of 2.25%. The business had revenue of $73.21 million during the quarter, compared to analysts’ expectations of $71.08 million. During the same period last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. Equities analysts predict that Penumbra will post ($0.13) earnings per share for the current year.
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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