Zacks Investment Research upgraded shares of Penumbra (NYSE:PEN) from a hold rating to a buy rating in a research report released on Thursday, Zacks.com reports. The brokerage currently has $165.00 price objective on the stock.

According to Zacks, “Penumbra, Inc. is an interventional therapies company. It designs, develops, manufactures and markets medical devices. The company’s portfolio of products primarily addresses neuro and peripheral vascular medical conditions and clinical needs. Neuro products include Neurovascular Access, Neuron Access System, BENCHMARK Intracranial Access System, Penumbra System, 3D, Penumbra Coil 400, Penumbra SMART Coil and LIBERTY stent. Peripheral vascular products include Ruby Coil System, Penumbra Occlusion Device and Indigo System. It operates primarily in U.S., Europe, Canada and Australia. Penumbra, Inc. is headquartered in Alameda, California. “

Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Penumbra from a buy rating to a hold rating in a research note on Thursday, August 1st. Wells Fargo & Co raised their price target on shares of Penumbra from $180.00 to $185.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada set a $174.00 price target on shares of Penumbra and gave the company a buy rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $169.43.

NYSE:PEN traded up $0.31 on Thursday, hitting $147.21. The company had a trading volume of 150,388 shares, compared to its average volume of 734,677. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 288.65, a PEG ratio of 8.47 and a beta of 0.71. The company has a current ratio of 6.23, a quick ratio of 4.33 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $142.70 and a two-hundred day moving average of $148.89. Penumbra has a 52 week low of $110.84 and a 52 week high of $185.70.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.06. The firm had revenue of $134.20 million during the quarter, compared to the consensus estimate of $130.67 million. Penumbra had a net margin of 3.03% and a return on equity of 6.80%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. As a group, equities analysts forecast that Penumbra will post 0.89 EPS for the current year.

In related news, Director Don W. Kassing sold 1,273 shares of Penumbra stock in a transaction on Monday, October 14th. The shares were sold at an average price of $144.09, for a total transaction of $183,426.57. Following the completion of the transaction, the director now owns 2,326 shares of the company’s stock, valued at $335,153.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Elsesser sold 8,000 shares of Penumbra stock in a transaction on Monday, August 12th. The stock was sold at an average price of $149.24, for a total transaction of $1,193,920.00. The disclosure for this sale can be found here. Insiders have sold 41,693 shares of company stock valued at $6,230,350 in the last ninety days. Insiders own 9.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stephens Investment Management Group LLC grew its holdings in shares of Penumbra by 2.9% during the third quarter. Stephens Investment Management Group LLC now owns 307,074 shares of the company’s stock valued at $41,298,000 after buying an additional 8,573 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Penumbra by 5.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,076 shares of the company’s stock valued at $279,000 after buying an additional 112 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Penumbra by 8.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,623 shares of the company’s stock valued at $353,000 after buying an additional 204 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in shares of Penumbra by 3.9% during the third quarter. Campbell & CO Investment Adviser LLC now owns 3,795 shares of the company’s stock valued at $510,000 after buying an additional 144 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in shares of Penumbra during the third quarter valued at about $1,547,000. 85.73% of the stock is owned by institutional investors and hedge funds.

Penumbra Company Profile

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

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