Penumbra (PEN) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Penumbra (NYSE:PEN) from a hold rating to a buy rating in a research note issued to investors on Wednesday, September 12th.

A number of other analysts also recently issued reports on the company. Zacks Investment Research raised Penumbra from a hold rating to a strong-buy rating and set a $143.00 target price on the stock in a research report on Saturday, August 11th. Canaccord Genuity reissued a buy rating and set a $175.00 price target on shares of Penumbra in a research report on Monday, August 20th. BMO Capital Markets boosted their price target on Penumbra from $140.00 to $150.00 and gave the stock a market perform rating in a research report on Thursday, August 9th. Finally, Wells Fargo & Co reissued an outperform rating and set a $180.00 price target (up previously from $150.00) on shares of Penumbra in a research report on Thursday, May 31st. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Penumbra has an average rating of Buy and a consensus target price of $161.17.

Shares of NYSE:PEN traded down $0.78 during midday trading on Wednesday, reaching $134.54. The company had a trading volume of 356,500 shares, compared to its average volume of 321,835. The company has a market cap of $5.15 billion, a P/E ratio of -13,462.00, a P/E/G ratio of 28.25 and a beta of 0.08. Penumbra has a 1-year low of $82.55 and a 1-year high of $167.35.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.12. The business had revenue of $109.64 million for the quarter, compared to the consensus estimate of $102.24 million. Penumbra had a return on equity of 2.78% and a net margin of 7.19%. Research analysts anticipate that Penumbra will post 0.27 EPS for the current year.

In other news, insider James Robert Pray sold 8,125 shares of the business’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $141.86, for a total transaction of $1,152,612.50. Following the completion of the sale, the insider now owns 1,578 shares in the company, valued at $223,855.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas Wilder sold 304 shares of the business’s stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of $138.50, for a total value of $42,104.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,072 shares of company stock worth $9,956,572. Company insiders own 10.70% of the company’s stock.

Several large investors have recently modified their holdings of PEN. SG Americas Securities LLC bought a new stake in shares of Penumbra during the first quarter worth approximately $462,000. Prudential Financial Inc. boosted its holdings in shares of Penumbra by 14.1% during the first quarter. Prudential Financial Inc. now owns 3,237 shares of the company’s stock worth $374,000 after acquiring an additional 400 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Penumbra by 6.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,748 shares of the company’s stock worth $1,821,000 after acquiring an additional 893 shares during the period. Swiss National Bank boosted its holdings in shares of Penumbra by 2.5% during the first quarter. Swiss National Bank now owns 50,100 shares of the company’s stock worth $5,794,000 after acquiring an additional 1,200 shares during the period. Finally, Chicago Equity Partners LLC bought a new stake in shares of Penumbra during the first quarter worth approximately $1,093,000. Institutional investors own 73.76% of the company’s stock.

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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Analyst Recommendations for Penumbra (NYSE:PEN)

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