Penumbra (PEN) Receives $130.75 Consensus PT from Analysts

Penumbra (NYSE:PEN) has been assigned a consensus rating of “Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $130.75.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut Penumbra from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $113.00 target price on shares of Penumbra in a research report on Wednesday, January 24th. Wells Fargo raised their price objective on Penumbra to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, March 13th. BMO Capital Markets raised their price objective on Penumbra from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Finally, Goldman Sachs started coverage on Penumbra in a research report on Wednesday, April 4th. They issued a “buy” rating and a $145.00 price objective on the stock.

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PEN traded up $1.75 on Thursday, hitting $124.75. 131,513 shares of the company traded hands, compared to its average volume of 287,258. The company has a market cap of $4,167.40, a PE ratio of -12,445.00, a P/E/G ratio of 44.40 and a beta of 0.01. Penumbra has a 12-month low of $77.75 and a 12-month high of $127.40.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.11. The business had revenue of $96.05 million during the quarter, compared to the consensus estimate of $87.69 million. Penumbra had a negative return on equity of 0.23% and a net margin of 1.40%. analysts predict that Penumbra will post 0.14 earnings per share for the current fiscal year.

In other Penumbra news, EVP Lynn Rothman sold 2,273 shares of Penumbra stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $115.00, for a total transaction of $261,395.00. Following the transaction, the executive vice president now directly owns 154,046 shares in the company, valued at approximately $17,715,290. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Don W. Kassing sold 2,000 shares of Penumbra stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $100.94, for a total transaction of $201,880.00. Following the transaction, the director now owns 2,648 shares in the company, valued at $267,289.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,000 shares of company stock worth $2,852,337. 13.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its holdings in shares of Penumbra by 8.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 131,584 shares of the company’s stock valued at $11,883,000 after acquiring an additional 10,232 shares in the last quarter. American International Group Inc. lifted its position in Penumbra by 8.1% during the 3rd quarter. American International Group Inc. now owns 19,655 shares of the company’s stock worth $1,775,000 after acquiring an additional 1,470 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in shares of Penumbra during the fourth quarter valued at about $33,998,000. Neuberger Berman Group LLC raised its position in shares of Penumbra by 0.8% during the third quarter. Neuberger Berman Group LLC now owns 250,500 shares of the company’s stock valued at $22,620,000 after buying an additional 2,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Penumbra by 45.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,691 shares of the company’s stock valued at $159,000 after buying an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 73.42% of the company’s stock.

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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.

Analyst Recommendations for Penumbra (NYSE:PEN)

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