Penumbra, Inc. (NYSE:PEN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $294.47.

Several brokerages recently weighed in on PEN. Citigroup raised their target price on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. BTIG Research raised their target price on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Bank of America began coverage on shares of Penumbra in a report on Friday. They issued a “buy” rating and a $320.00 target price on the stock. Oppenheimer began coverage on shares of Penumbra in a report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price on the stock. Finally, Truist Financial raised their target price on shares of Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Penumbra Trading Up 1.3 %

NYSE PEN opened at $276.24 on Thursday. The stock has a market capitalization of $10.64 billion, a P/E ratio of 812.46, a PEG ratio of 2.83 and a beta of 0.51. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The firm’s 50-day moving average is $270.69 and its two-hundred day moving average is $238.41.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, sell-side analysts anticipate that Penumbra will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Adam Elsesser sold 61,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares of the company’s stock, valued at approximately $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the completion of the transaction, the executive vice president now directly owns 66,539 shares in the company, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,918 shares of company stock valued at $22,054,293. 5.00% of the stock is owned by company insiders.

Institutional Trading of Penumbra

Hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Penumbra in the 4th quarter valued at approximately $573,000. State Street Corp lifted its holdings in shares of Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after buying an additional 3,863 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after buying an additional 358,932 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in shares of Penumbra by 10.4% in the 4th quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock valued at $5,061,000 after buying an additional 2,000 shares during the period. Finally, LMR Partners LLP acquired a new stake in shares of Penumbra in the 3rd quarter valued at approximately $2,330,000. 88.88% of the stock is owned by institutional investors and hedge funds.

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.