Penumbra (NYSE:PEN) Receives “Sector Perform” Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their sector perform rating on shares of Penumbra (NYSE:PEN) in a research note released on Thursday,Benzinga reports. Royal Bank Of Canada currently has a $374.00 price target on the stock.

Other research analysts also recently issued reports about the company. Evercore reaffirmed an “outperform” rating and set a $335.00 target price on shares of Penumbra in a research note on Thursday, May 7th. UBS Group reissued a “neutral” rating and issued a $374.00 price target on shares of Penumbra in a report on Thursday, February 26th. Wall Street Zen upgraded 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. Three analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $361.33.

Penumbra Price Performance

Shares of Penumbra stock traded down $0.40 during trading hours on Thursday, reaching $317.92. The stock had a trading volume of 49,313 shares, compared to its average volume of 778,353. Penumbra has a twelve month low of $221.26 and a twelve month high of $362.41. The company has a current ratio of 6.02, a quick ratio of 3.95 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $12.50 billion, a PE ratio of 73.24, a PEG ratio of 1.96 and a beta of 0.71. The stock’s 50 day moving average is $325.89 and its 200 day moving average is $327.39.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.24). The business had revenue of $374.76 million during the quarter, compared to analysts’ expectations of $370.47 million. Penumbra had a net margin of 11.76% and a return on equity of 10.87%. Penumbra’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 EPS. Equities analysts expect that Penumbra will post 5.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction dated 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 sale, the director owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. This represents a 1.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Penumbra

A number of large investors have recently made changes to their positions in the stock. Intech Investment Management LLC grew its holdings in Penumbra by 13.3% in the 3rd quarter. Intech Investment Management LLC now owns 48,971 shares of the company’s stock valued at $12,405,000 after buying an additional 5,749 shares in the last quarter. Algert Global LLC raised its holdings in shares of Penumbra by 38.8% during the 3rd quarter. Algert Global LLC now owns 45,875 shares of the company’s stock worth $11,621,000 after acquiring an additional 12,830 shares during the period. Citigroup Inc. boosted its position in shares of Penumbra by 75.9% during the 3rd quarter. Citigroup Inc. now owns 33,560 shares of the company’s stock valued at $8,501,000 after acquiring an additional 14,477 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Penumbra during the 3rd quarter valued at about $1,028,000. Finally, NZS Capital LLC grew its holdings in shares of Penumbra by 24.9% in the third quarter. NZS Capital LLC now owns 86,984 shares of the company’s stock valued at $22,035,000 after purchasing an additional 17,355 shares during the period. 88.88% of the stock is currently owned by hedge funds and other 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.