Penumbra Inc. [PEN] Stock trading around $264.18 per share: What’s Next?

Penumbra Inc. [NYSE: PEN] price surged by 13.52 percent to reach at $31.46. The company report on October 29, 2020 that Penumbra, Inc. Reports Third Quarter 2020 Financial Results.

Penumbra, Inc. (NYSE: PEN), a global healthcare company focused on innovative therapies, today reported financial results for the third quarter ended September 30, 2020.

Revenue of $151.1 million in the third quarter of 2020, an increase of 8.3%, or 7.7% in constant currency1, compared to the third quarter of 2019. US revenue of $109.7 million was approximately 22% above the same period a year ago.

A sum of 1363245 shares traded at recent session while its average daily volume was at 370.03K shares. Penumbra Inc. shares reached a high of $277.00 and dropped to a low of $248.514 until finishing in the latest session at $264.18.

The one-year PEN stock forecast points to a potential downside of -5.32. The average equity rating for PEN stock is currently 1.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Penumbra Inc. [PEN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PEN shares is $250.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PEN stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Penumbra Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 07, 2020. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on September 29, 2020, representing the official price target for Penumbra Inc. stock.

The Average True Range (ATR) for Penumbra Inc. is set at 10.52, with the Price to Sales ratio for PEN stock in the period of the last 12 months amounting to 17.66. The Price to Book ratio for the last quarter was 14.97, with the Price to Cash per share for the same quarter was set at 7.90.

PEN Stock Performance Analysis:

Penumbra Inc. [PEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.70. With this latest performance, PEN shares gained by 35.91% in over the last four-week period, additionally plugging by 54.84% over the last 6 months – not to mention a rise of 65.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PEN stock in for the last two-week period is set at 77.60, with the RSI for the last a single of trading hit 83.19, and the three-weeks RSI is set at 73.30 for Penumbra Inc. [PEN]. The present Moving Average for the last 50 days of trading for this stock 210.83, while it was recorded at 241.69 for the last single week of trading, and 188.78 for the last 200 days.

Insight into Penumbra Inc. Fundamentals:

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Penumbra Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.10 and a Current Ratio set at 7.40.

PEN Stock EPS

With the latest financial reports released by the company, Penumbra Inc. posted 0.22/share EPS, while the average EPS was predicted by analysts to be reported at 0.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Penumbra Inc. go to 49.70%.

Penumbra Inc. [PEN] Insider Position Details

There are presently around $8,127 million, or 92.30% of PEN stock, in the hands of institutional investors. The top three institutional holders of PEN stocks are: FMR LLC with ownership of 5,390,544, which is approximately 2.524% of the company’s market cap and around 1.80% of the total institutional ownership; BLACKROCK INC., holding 3,347,879 shares of the stock with an approximate value of $884.44 million in PEN stocks shares; and VANGUARD GROUP INC, currently with $816.95 million in PEN stock with ownership of nearly 6.144% of the company’s market capitalization.

138 institutional holders increased their position in Penumbra Inc. [NYSE:PEN] by around 2,428,752 shares. Additionally, 119 investors decreased positions by around 1,369,036 shares, while 30 investors held positions by with 26,966,490 shares. The mentioned changes placed institutional holdings at 30,764,278 shares, according to the latest SEC report filing. PEN stock had 44 new institutional investments in for a total of 182,668 shares, while 28 institutional investors sold positions of 352,356 shares during the same period.

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