Penumbra (PEN) Given New $152.00 Price Target at BMO Capital Markets

Penumbra (NYSE:PEN) had its target price boosted by BMO Capital Markets from $150.00 to $152.00 in a report published on Tuesday. They currently have a market perform rating on the stock.

A number of other research firms also recently issued reports on PEN. TheStreet raised Penumbra from a d+ rating to a c rating in a research report on Monday, September 17th. ValuEngine raised Penumbra from a hold rating to a buy rating in a research report on Wednesday, September 12th. Zacks Investment Research downgraded Penumbra from a buy rating to a hold rating in a research report on Tuesday. Bank of America reissued a buy rating and set a $36.00 price target on shares of Penumbra in a research report on Monday, October 29th. Finally, Royal Bank of Canada assumed coverage on Penumbra in a research report on Monday, October 8th. They set an outperform rating and a $174.00 price target for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $145.57.

PEN stock traded down $5.38 during trading on Tuesday, reaching $150.20. 441,838 shares of the stock traded hands, compared to its average volume of 431,373. Penumbra has a 52-week low of $82.55 and a 52-week high of $167.35. The company has a market cap of $5.40 billion, a PE ratio of -15,020.00, a price-to-earnings-growth ratio of 16.47 and a beta of 0.41.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.14. Penumbra had a return on equity of 4.21% and a net margin of 2.15%. The firm had revenue of $111.80 million during the quarter, compared to the consensus estimate of $103.59 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. Equities analysts predict that Penumbra will post 0.47 earnings per share for the current fiscal year.

In other news, insider Daniel Donen Davis sold 7,500 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $125.05, for a total value of $937,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harpreet Grewal sold 665 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $148.58, for a total value of $98,805.70. The disclosure for this sale can be found here. Insiders sold 31,518 shares of company stock valued at $4,153,618 in the last ninety days. Company insiders own 10.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PEN. Advisors Preferred LLC boosted its position in shares of Penumbra by 40.1% in the second quarter. Advisors Preferred LLC now owns 1,220 shares of the company’s stock worth $169,000 after buying an additional 349 shares during the period. BlueMountain Capital Management LLC purchased a new stake in shares of Penumbra in the second quarter worth about $267,000. WINTON GROUP Ltd purchased a new stake in shares of Penumbra in the first quarter worth about $274,000. Piedmont Investment Advisors Inc. purchased a new stake in shares of Penumbra in the third quarter worth about $332,000. Finally, NumerixS Investment Technologies Inc boosted its position in shares of Penumbra by 20.0% in the second quarter. NumerixS Investment Technologies Inc now owns 2,520 shares of the company’s stock worth $354,000 after buying an additional 420 shares during the period. 74.33% of the stock is owned by institutional investors.

About Penumbra

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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