Penumbra (NYSE:PEN) Price Target Raised to $313.00

Penumbra (NYSE:PEN) had its price objective increased by Royal Bank of Canada from $285.00 to $313.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms also recently issued reports on PEN. Wells Fargo & Company lifted their price target on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Robert W. Baird raised their price objective on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley raised their price target on Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Truist Financial raised their price target on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Trading Down 3.5 %

Shares of PEN stock opened at $292.52 on Wednesday. The business’s fifty day moving average price is $258.16 and its 200 day moving average price is $227.04. The firm has a market capitalization of $11.27 billion, a PE ratio of 860.35, a P/E/G ratio of 2.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra has a 1-year low of $148.00 and a 1-year high of $310.00.

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

Insiders Place Their Bets

In other news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction on Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the completion of the sale, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. This represents a 8.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,219 shares of company stock valued at $4,426,439. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

A number of institutional investors have recently bought and sold shares of the stock. Cache Advisors LLC purchased a new stake in Penumbra in the fourth quarter valued at approximately $534,000. Public Employees Retirement System of Ohio grew its stake in shares of Penumbra by 6.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 22,399 shares of the company’s stock valued at $5,319,000 after buying an additional 1,316 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Penumbra by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 111,500 shares of the company’s stock valued at $26,479,000 after acquiring an additional 13,929 shares during the period. Woodline Partners LP grew its position in Penumbra by 396.0% during the fourth quarter. Woodline Partners LP now owns 25,323 shares of the company’s stock valued at $6,014,000 after acquiring an additional 20,218 shares during the period. Finally, Vident Advisory LLC purchased a new stake in Penumbra during the fourth quarter valued at about $212,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

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.