Penumbra (NYSE:PEN) Stock Rating Lowered by StockNews.com

Penumbra (NYSE:PEN) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other research analysts also recently commented on PEN. Wells Fargo & Company upped their price objective on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. UBS Group upped their price target on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Canaccord Genuity Group increased their target price on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. increased their target price on Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Stock Performance

NYSE:PEN opened at $285.36 on Friday. The firm’s fifty day moving average price is $263.25 and its 200 day moving average price is $232.21. Penumbra has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The firm 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.

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

Insider Buying and Selling

In related news, CAO Lambert Shiu sold 654 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $243.01, for a total value of $158,928.54. Following the transaction, the chief accounting officer now directly owns 20,028 shares of the company’s stock, valued at approximately $4,867,004.28. This trade represents a 3.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares in the company, valued at $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,421 shares of company stock valued at $3,990,316. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEN. True Wealth Design LLC acquired a new stake in Penumbra in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. grew its holdings in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after buying an additional 70 shares during the last quarter. Hurley Capital LLC acquired a new stake in Penumbra in the 4th quarter valued at approximately $56,000. Huntington National Bank grew its holdings in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after buying an additional 154 shares during the last quarter. Finally, Mather Group LLC. grew its holdings in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after buying an additional 208 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Company Profile

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.