Penumbra (NYSE:PEN) Cut to Hold at ValuEngine

ValuEngine lowered shares of Penumbra (NYSE:PEN) from a buy rating to a hold rating in a research note published on Monday, April 1st, ValuEngine reports.

A number of other equities research analysts have also issued reports on PEN. Canaccord Genuity upped their price objective on shares of Penumbra from $138.00 to $160.00 and gave the company a buy rating in a report on Wednesday, January 30th. Zacks Investment Research lowered shares of Penumbra from a buy rating to a hold rating in a research note on Friday, March 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Penumbra presently has an average rating of Buy and a consensus price target of $143.17.

Shares of NYSE PEN traded up $0.28 during mid-day trading on Monday, reaching $137.04. The company’s stock had a trading volume of 603,988 shares, compared to its average volume of 387,181. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 268.71, a price-to-earnings-growth ratio of 7.53 and a beta of 0.80. Penumbra has a 1-year low of $110.84 and a 1-year high of $167.35.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, February 26th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. The business had revenue of $120.80 million during the quarter, compared to analysts’ expectations of $114.93 million. Penumbra had a net margin of 1.48% and a return on equity of 4.42%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. Equities research analysts expect that Penumbra will post 0.83 earnings per share for the current fiscal year.

In other news, CEO Adam Elsesser sold 8,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $139.86, for a total transaction of $1,118,880.00. Following the sale, the chief executive officer now owns 1,115,838 shares of the company’s stock, valued at $156,061,102.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arani Bose sold 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $160.07, for a total transaction of $8,803,850.00. The disclosure for this sale can be found here. Insiders have sold 82,261 shares of company stock worth $12,645,766 in the last three months. Corporate insiders own 10.70% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Gemmer Asset Management LLC raised its holdings in Penumbra by 1,005.1% in the first quarter. Gemmer Asset Management LLC now owns 431 shares of the company’s stock valued at $63,000 after acquiring an additional 392 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in Penumbra by 7.1% in the first quarter. Leavell Investment Management Inc. now owns 7,550 shares of the company’s stock valued at $1,110,000 after acquiring an additional 500 shares in the last quarter. Virtu Financial LLC acquired a new stake in Penumbra in the first quarter valued at approximately $901,000. KAMES CAPITAL plc raised its holdings in Penumbra by 11.1% in the first quarter. KAMES CAPITAL plc now owns 11,947 shares of the company’s stock valued at $1,757,000 after acquiring an additional 1,193 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Penumbra by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 287,505 shares of the company’s stock valued at $35,133,000 after acquiring an additional 21,488 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Penumbra (NYSE:PEN)

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