Penumbra (NYSE:PEN) Price Target Lowered to $265.00 at Citigroup

Penumbra (NYSE:PEN) had its target price cut by Citigroup from $300.00 to $265.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler lowered their target price on shares of Penumbra from $290.00 to $260.00 and set an overweight rating on the stock in a research note on Wednesday, May 8th. Truist Financial dropped their price target on Penumbra from $290.00 to $280.00 and set a buy rating for the company in a research report on Friday, March 22nd. Needham & Company LLC reissued a hold rating on shares of Penumbra in a research report on Wednesday, May 8th. Finally, Canaccord Genuity Group decreased their price objective on Penumbra from $284.00 to $272.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Penumbra currently has an average rating of Moderate Buy and an average price target of $287.60.

Penumbra Trading Up 0.8 %

NYSE PEN opened at $179.46 on Wednesday. Penumbra has a fifty-two week low of $170.59 and a fifty-two week high of $328.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12. The stock has a 50 day simple moving average of $190.45 and a two-hundred day simple moving average of $221.97. The stock has a market cap of $6.96 billion, a P/E ratio of 75.72, a price-to-earnings-growth ratio of 1.82 and a beta of 0.55.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The business had revenue of $278.70 million during the quarter, compared to the consensus estimate of $274.94 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, analysts forecast that Penumbra will post 2.87 earnings per share for the current year.

Insider Activity at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $207.41, for a total transaction of $124,446.00. Following the completion of the transaction, the executive vice president now owns 63,488 shares in the company, valued at approximately $13,168,046.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $207.41, for a total transaction of $124,446.00. Following the sale, the executive vice president now directly owns 63,488 shares in the company, valued at approximately $13,168,046.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00. Following the completion of the transaction, the chief executive officer now directly owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The disclosure for this sale can be found here. Insiders have sold a total of 16,970 shares of company stock worth $3,390,604 over the last quarter. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Penumbra by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after purchasing an additional 32,557 shares during the period. Champlain Investment Partners LLC raised its holdings in Penumbra by 131.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after acquiring an additional 616,700 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Penumbra by 12.2% in the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock worth $186,066,000 after purchasing an additional 90,444 shares in the last quarter. Norges Bank acquired a new position in shares of Penumbra during the 4th quarter worth approximately $85,222,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Penumbra by 19.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock valued at $66,697,000 after purchasing an additional 42,876 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Company Profile

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.