Penumbra (NYSE:PEN) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Penumbra (NYSE:PEN) from a buy rating to a hold rating in a report published on Friday.

A number of other equities analysts also recently commented on the stock. Robert W. Baird upped their price objective on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. BTIG Research upped their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Canaccord Genuity Group increased their price target on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Oppenheimer assumed coverage on shares of Penumbra in a report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target for the company. Finally, Royal Bank of Canada increased their price target on shares of Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Stock Up 1.4 %

PEN stock opened at $285.36 on Friday. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 839.29, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a fifty day moving average price of $263.25 and a 200 day moving average price of $231.89.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Sell-side analysts expect that Penumbra will post 3.67 earnings per share for the current year.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the sale, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the sale, the executive vice president now directly owns 63,444 shares in the company, valued at $15,511,423.56. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,421 shares of company stock valued at $3,990,316. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Hedge funds have recently modified their holdings of the company. True Wealth Design LLC acquired a new stake in shares of Penumbra during the 3rd quarter worth about $26,000. UMB Bank n.a. boosted its position in shares of Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after acquiring an additional 70 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Penumbra in the fourth quarter worth approximately $56,000. Huntington National Bank boosted its position in shares of Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after acquiring an additional 154 shares during the last quarter. Finally, Mather Group LLC. boosted its position in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after acquiring an additional 208 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

About Penumbra

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.