Penumbra (NYSE:PEN) Stock Price Crosses Below Fifty Day Moving Average – What’s Next?

Shares of Penumbra, Inc. (NYSE:PEN) passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $320.79 and traded as low as $316.35. Penumbra shares last traded at $318.3630, with a volume of 851,286 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research report on Thursday, October 15th. Evercore reissued an “outperform” rating and issued a $320.00 target price on shares of Penumbra in a report on Monday, July 6th. Finally, Zacks Research raised Penumbra from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $367.07.

Penumbra Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.86 and a current ratio of 5.75. The company has a market capitalization of $12.54 billion, a PE ratio of 78.22, a P/E/G ratio of 2.23 and a beta of 0.70. The company’s 50-day simple moving average is $320.79 and its 200-day simple moving average is $327.38.

Penumbra (NYSE:PEN) last announced its earnings results on Thursday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.28). Penumbra had a net margin of 10.67% and a return on equity of 10.50%. The business had revenue of $390.05 million during the quarter, compared to analysts’ expectations of $389.64 million. During the same period in the previous year, the company posted $0.86 earnings per share. Penumbra’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 4.96 earnings per share for the current year.

Institutional Trading of Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Penumbra during the 2nd quarter valued at approximately $25,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Penumbra in the 2nd quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Penumbra by 48.7% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 116 shares of the company’s stock worth $37,000 after acquiring an additional 38 shares during the period. CoreCap Advisors LLC grew its holdings in shares of Penumbra by 1,066.7% in the 3rd quarter. CoreCap Advisors LLC now owns 140 shares of the company’s stock worth $45,000 after acquiring an additional 128 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Penumbra in the 2nd quarter valued at approximately $51,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Company Profile

Penumbra, Inc is a medical device company that develops, manufactures and markets products used to treat patients with vascular conditions. Its technologies are primarily designed for minimally invasive procedures in the neurovascular and peripheral vascular markets, including the treatment of ischemic stroke, brain aneurysms and other vascular disorders.

The company’s product portfolio includes aspiration and mechanical thrombectomy systems for removing blood clots, embolization devices for blocking abnormal blood flow, and access and delivery products used during endovascular procedures.