Penumbra, Inc. (NYSE:PEN) has been assigned an average broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a one year consensus target price of $89.00 for the company and are forecasting that the company will post ($0.05) earnings per share for the current quarter, according to Zacks. Zacks has also given Penumbra an industry rank of 167 out of 265 based on the ratings given to its competitors.
PEN has been the topic of several research reports. BidaskClub raised Penumbra from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $91.00 target price on shares of Penumbra in a research report on Monday, March 27th. Zacks Investment Research lowered Penumbra from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $96.00 price target on shares of Penumbra in a research note on Friday, June 16th.
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In other news, Director Thomas Wilder sold 345 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $86.10, for a total transaction of $29,704.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new position in shares of Penumbra during the first quarter worth approximately $194,000. Simplex Trading LLC raised its stake in Penumbra by 11.5% in the first quarter. Simplex Trading LLC now owns 2,565 shares of the company’s stock worth $214,000 after buying an additional 265 shares during the period. FNY Partners Fund LP acquired a new stake in Penumbra during the first quarter worth about $223,000. Rathbone Brothers plc acquired a new stake in Penumbra during the first quarter worth about $250,000. Finally, Amalgamated Bank acquired a new stake in Penumbra during the first quarter worth about $274,000. 68.67% of the stock is currently owned by institutional investors and hedge funds.
Penumbra (NYSE:PEN) opened at 84.40 on Tuesday. Penumbra has a 52-week low of $56.05 and a 52-week high of $91.00. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 302.51 and a beta of 0.14. The stock’s 50 day moving average is $86.18 and its 200-day moving average is $81.33.
Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, May 9th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.04. Penumbra had a negative return on equity of 2.25% and a negative net margin of 2.31%. The company had revenue of $73.21 million during the quarter, compared to analysts’ expectations of $71.08 million. During the same quarter in the prior year, the company earned $0.07 EPS. The firm’s revenue was up 26.4% compared to the same quarter last year. Equities research analysts anticipate that Penumbra will post ($0.13) EPS for the current fiscal year.
Penumbra Company Profile
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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