UBS Group Begins Coverage on Penumbra (NYSE:PEN)

UBS Group assumed coverage on shares of Penumbra (NYSE:PEN) in a report issued on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $305.00 price target on the stock.

Several other equities analysts also recently issued reports on the stock. Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Citigroup increased their price target on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Truist Financial increased their target price on shares of Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, BTIG Research upped their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and a consensus target price of $261.36.

Penumbra Trading Up 1.8 %

Shares of PEN stock opened at $268.45 on Tuesday. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $244.99 and its 200 day simple moving average is $213.59. Penumbra has a 1 year low of $148.00 and a 1 year high of $277.34. The firm has a market capitalization of $10.30 billion, a P/E ratio of 312.15, a price-to-earnings-growth ratio of 1.93 and a beta of 0.52.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same period last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Penumbra will post 2.81 EPS for the current year.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the completion of the sale, the executive vice president now owns 64,044 shares of the company’s stock, valued at approximately $15,353,908.56. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the transaction, the chief executive officer now directly owns 852,582 shares of the company’s stock, valued at $202,300,656.96. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,819 shares of company stock worth $8,129,483. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Penumbra

A number of institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new stake in shares of Penumbra during the 2nd quarter worth about $215,000. Envestnet Asset Management Inc. increased its holdings in Penumbra by 234.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 63,015 shares of the company’s stock valued at $11,341,000 after buying an additional 44,151 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Penumbra by 96.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company’s stock valued at $46,257,000 after purchasing an additional 126,392 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Penumbra by 4.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,312 shares of the company’s stock valued at $776,000 after purchasing an additional 177 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Penumbra by 122.4% in the 2nd quarter. Hsbc Holdings PLC now owns 6,152 shares of the company’s stock worth $1,094,000 after purchasing an additional 3,386 shares in the last quarter. Institutional investors and hedge funds 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.