Penumbra, Inc. (NYSE:PEN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Penumbra, Inc. (NYSE:PENGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $300.64.

PEN has been the subject of a number of recent research reports. Piper Sandler cut their price target on Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Truist Financial cut their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. JPMorgan Chase & Co. cut shares of Penumbra from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. Canaccord Genuity Group reduced their target price on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $289.00 price target on shares of Penumbra in a research note on Friday, February 23rd.

Check Out Our Latest Report on Penumbra

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the completion of the transaction, the executive vice president now owns 64,281 shares in the company, valued at approximately $13,953,476.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00. Following the completion of the sale, the chief executive officer now directly owns 942,582 shares in the company, valued at $189,440,130.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the completion of the transaction, the executive vice president now directly owns 64,281 shares of the company’s stock, valued at $13,953,476.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,970 shares of company stock worth $3,420,669. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in Penumbra by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 239,103 shares of the company’s stock worth $57,841,000 after acquiring an additional 6,436 shares during the last quarter. Pathstone Family Office LLC raised its stake in shares of Penumbra by 135.2% in the third quarter. Pathstone Family Office LLC now owns 1,976 shares of the company’s stock worth $478,000 after purchasing an additional 1,136 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Penumbra during the third quarter worth about $4,233,000. Atika Capital Management LLC purchased a new stake in Penumbra in the third quarter valued at approximately $9,072,000. Finally, QRG Capital Management Inc. acquired a new position in Penumbra in the 3rd quarter worth approximately $424,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of NYSE:PEN opened at $187.20 on Tuesday. The business has a 50-day simple moving average of $201.21 and a two-hundred day simple moving average of $229.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 78.99, a price-to-earnings-growth ratio of 1.90 and a beta of 0.59. Penumbra has a fifty-two week low of $180.93 and a fifty-two week high of $348.67.

Penumbra (NYSE:PENGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The company had revenue of $278.70 million for the quarter, compared to analysts’ expectations of $274.94 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts expect that Penumbra will post 2.87 earnings per share for the current year.

About Penumbra

(Get Free Report

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.

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Analyst Recommendations for Penumbra (NYSE:PEN)

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