Penumbra (NYSE:PEN) Trading 3.9% Higher

Penumbra, Inc. (NYSE:PEN) shot up 3.9% on Wednesday . The company traded as high as $196.51 and last traded at $194.27. 133,238 shares traded hands during trading, a decline of 65% from the average session volume of 385,151 shares. The stock had previously closed at $187.06.

Analysts Set New Price Targets

PEN has been the topic of several analyst reports. Citigroup lifted their price objective on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Canaccord Genuity Group decreased their price target on Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler dropped their price objective on Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus started coverage on shares of Penumbra in a report on Tuesday. They issued a “buy” rating and a $238.00 target price on the stock. Finally, Morgan Stanley lowered their price target on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Penumbra Stock Performance

The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $7.80 billion, a P/E ratio of 84.73, a price-to-earnings-growth ratio of 2.24 and a beta of 0.54. The business’s 50 day simple moving average is $190.30 and its two-hundred day simple moving average is $199.77.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The company had revenue of $299.40 million for the quarter, compared to analysts’ expectations of $298.24 million. During the same period last year, the firm posted $0.43 earnings per share. Penumbra’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Penumbra, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity at Penumbra

In related news, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.99, for a total value of $30,598.30. Following the transaction, the director now directly owns 1,005 shares of the company’s stock, valued at approximately $180,889.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Don W. Kassing sold 170 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $179.99, for a total value of $30,598.30. Following the completion of the sale, the director now directly owns 1,005 shares of the company’s stock, valued at approximately $180,889.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $179.20, for a total transaction of $107,520.00. Following the transaction, the executive vice president now directly owns 62,288 shares in the company, valued at approximately $11,162,009.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,372 shares of company stock worth $3,888,852. 5.00% of the stock is owned by company insiders.

Institutional Trading of Penumbra

Several institutional investors have recently made changes to their positions in PEN. Northwestern Mutual Wealth Management Co. grew its stake in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after acquiring an additional 369 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Penumbra by 177.0% during the 2nd quarter. Algert Global LLC now owns 28,118 shares of the company’s stock valued at $5,060,000 after purchasing an additional 17,968 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Penumbra during the second quarter valued at about $4,033,000. The Manufacturers Life Insurance Company increased its holdings in shares of Penumbra by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 106,815 shares of the company’s stock worth $19,223,000 after purchasing an additional 3,683 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Penumbra by 439.8% in the second quarter. AQR Capital Management LLC now owns 178,413 shares of the company’s stock worth $31,283,000 after buying an additional 145,364 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

About Penumbra

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.