Penumbra, Inc. (PEN) Stock Price Hits All-Time High Today

March 18, 2018 - By Linda Rogers

The stock of Penumbra, Inc. (NYSE:PEN) reached all time high today, Mar, 18 and still has $128.08 target or 3.00 % above today’s $124.35 share price. This indicates more upside for the $4.24B company. This technical setup was reported by If the $128.08 PT is reached, the company will be worth $127.32 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock decreased 0.64% or $0.8 during the last trading session, reaching $124.35. About 351,091 shares traded or 30.89% up from the average. Penumbra, Inc. (NYSE:PEN) has risen 65.49% since March 18, 2017 and is uptrending. It has outperformed by 48.79% the S&P500.

Analysts await Penumbra, Inc. (NYSE:PEN) to report earnings on May, 8. They expect $-0.02 earnings per share, up 80.00 % or $0.08 from last year’s $-0.1 per share. After $0.10 actual earnings per share reported by Penumbra, Inc. for the previous quarter, Wall Street now forecasts -120.00 % negative EPS growth.

Penumbra, Inc. (NYSE:PEN) Ratings Coverage

Among 5 analysts covering Penumbra (NYSE:PEN), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Penumbra had 9 analyst reports since October 13, 2015 according to SRatingsIntel. The rating was initiated by Bank of America with “Buy” on Wednesday, October 14. The firm earned “Overweight” rating on Tuesday, October 13 by JP Morgan. The firm earned “Buy” rating on Thursday, May 11 by BMO Capital Markets. The stock of Penumbra, Inc. (NYSE:PEN) earned “Outperform” rating by Wells Fargo on Tuesday, October 13. Canaccord Genuity initiated Penumbra, Inc. (NYSE:PEN) on Tuesday, October 13 with “Buy” rating. The stock of Penumbra, Inc. (NYSE:PEN) earned “Buy” rating by Canaccord Genuity on Monday, November 30. The stock of Penumbra, Inc. (NYSE:PEN) earned “Buy” rating by BMO Capital Markets on Wednesday, April 12. The rating was downgraded by JP Morgan on Tuesday, January 2 to “Neutral”.

Penumbra, Inc. designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company has market cap of $4.24 billion. The firm offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, PX SLIM, and Velocity brands; aspiration based thrombectomy systems and accessory devices under the Penumbra System brand; and revascularization device for mechanical thrombectomy under the 3D brand. It has a 956.54 P/E ratio. It also provides neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400 and Penumbra SMART Coil brands; and neurovascular stents for stent-assisted coiling in large and wide-neck aneurysms under the LIBERTY Stent brand.

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