Penumbra stock (PEN:NYE), has been downgraded by Needham & Company LLC from a “Buy” rating to a “Hold” rating.
While several other research firms have given positive ratings and price target increases for Penumbra, the consensus rating is now “Strong Buy”. PEN stock has a market cap of $10.52 billion, a PE ratio of -4,592.33, and a beta of 0.52.
Penumbra Stock Price Analysis:
PEN stock opened at $275.54 on Wednesday and has a 50-day moving average price of $259.52 and a 200-day moving average price of $220.65.
Quarterly Earnings Review:
Penumbra recently released its quarterly earnings results, reporting $0.16 earnings per share, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $221.22 million during the quarter, compared to the consensus estimate of $217.03 million.
However, the company has had a negative net margin of 0.24%. Sell-side analysts forecast that Penumbra will post 1.29 earnings per share for the current fiscal year.
Insiders at Penumbra have sold 28,002 shares of PEN stock valued at $7,035,065 over the last 90 days, with insiders owning 5.50% of the company’s stock.
Penumbra Stock-Institutional Holdings:
Institutional investors have also been active, with Independent Advisor Alliance acquiring a new position in the company worth about $214,000 in the third quarter.
Penumbra, Inc., together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. Penumbra, Inc. was incorporated in 2004 and is headquartered in Alameda, California.