Penumbra, Inc. (NYSE:PEN) has received a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a one year consensus price target of $89.00 for the company and are predicting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also assigned Penumbra an industry rank of 115 out of 265 based on the ratings given to related companies.
Several equities analysts have recently weighed in on PEN shares. Zacks Investment Research downgraded Penumbra from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. BMO Capital Markets reissued a “buy” rating and set a $96.00 target price on shares of Penumbra in a research report on Wednesday, May 10th. BidaskClub raised Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Canaccord Genuity reissued a “buy” rating and set a $94.00 target price on shares of Penumbra in a research report on Tuesday, June 13th.
Shares of Penumbra (PEN) traded up 4.70% during mid-day trading on Wednesday, reaching $88.05. The company’s stock had a trading volume of 460,464 shares. The stock has a market capitalization of $2.96 billion, a P/E ratio of 315.59 and a beta of 0.10. The company’s 50-day moving average price is $85.51 and its 200-day moving average price is $81.83. Penumbra has a 12-month low of $56.05 and a 12-month high of $91.00.
Penumbra (NYSE:PEN) last released its earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The firm had revenue of $80.60 million for the quarter, compared to the consensus estimate of $77.16 million. Penumbra had a negative return on equity of 2.25% and a negative net margin of 2.31%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. On average, equities research analysts forecast that Penumbra will post ($0.13) earnings per share for the current fiscal year.
In related news, Director Thomas Wilder sold 345 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $86.10, for a total transaction of $29,704.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Donen Davis sold 32,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $79.42, for a total value of $2,541,440.00. The disclosure for this sale can be found here. Insiders own 22.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Penumbra by 82,715.0% in the first quarter. BlackRock Inc. now owns 1,733,318 shares of the company’s stock worth $144,643,000 after buying an additional 1,731,225 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Penumbra by 168.7% in the second quarter. Eagle Asset Management Inc. now owns 510,918 shares of the company’s stock worth $44,833,000 after buying an additional 320,794 shares during the last quarter. American Century Companies Inc. acquired a new position in Penumbra during the second quarter worth about $26,824,000. FMR LLC boosted its position in Penumbra by 5.0% in the first quarter. FMR LLC now owns 4,985,173 shares of the company’s stock worth $416,013,000 after buying an additional 238,594 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new position in Penumbra during the first quarter worth about $15,971,000. Institutional investors own 69.01% of the company’s stock.
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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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