Penumbra’s (PEN) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Penumbra (NYSE:PEN) in a report released on Wednesday,Benzinga reports.

PEN has been the subject of a number of other research reports. BTIG Research boosted their price target on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $275.00 in a research note on Wednesday, December 11th. Truist Financial boosted their price target on shares of Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup boosted their price target on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group boosted their price target on shares of Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and an average price target of $292.64.

Penumbra Price Performance

Shares of NYSE:PEN opened at $292.52 on Wednesday. The company has a 50 day moving average of $258.16 and a 200 day moving average of $227.04. The stock has a market cap of $11.27 billion, a P/E ratio of 860.35, a P/E/G ratio of 2.23 and a beta of 0.53. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. As a group, sell-side analysts forecast that Penumbra will post 3.86 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the sale, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88. Following the sale, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at $5,016,625.92. The trade was a 8.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,219 shares of company stock valued at $4,426,439 in the last quarter. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Several institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in Penumbra by 6.6% during the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock valued at $150,000 after buying an additional 39 shares during the period. Pallas Capital Advisors LLC lifted its position in shares of Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after purchasing an additional 41 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares during the period. Baker Avenue Asset Management LP lifted its position in shares of Penumbra by 1.6% in the 4th quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company’s stock worth $791,000 after purchasing an additional 53 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Penumbra by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after purchasing an additional 57 shares during the period. 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.