Needham & Company LLC Downgrades Penumbra (NYSE:PEN)

Penumbra Stock

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.

PEN Ratings by Stock Target Advisor

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.

PEN Ratings by Stock Target Advisor

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.

 

Insider Transactions:

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.

 

Company Profile:

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.

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