Penumbra (NYSE:PEN) Receives “Hold” Rating from Needham & Company LLC

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

Several other equities analysts also recently issued reports on the stock. UBS Group initiated coverage on shares of Penumbra in a research note on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price objective for the company. Robert W. Baird increased their target price on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $190.00 to $275.00 in a research note on Wednesday, December 11th. Canaccord Genuity Group increased their target price 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. Finally, Piper Sandler increased their target price on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Stock Performance

NYSE PEN opened at $303.55 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra has a 1 year low of $148.00 and a 1 year high of $310.00. The company has a market capitalization of $11.65 billion, a PE ratio of 352.97, a P/E/G ratio of 1.97 and a beta of 0.53. The company has a fifty day moving average of $256.15 and a two-hundred day moving average of $225.97.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. As a group, analysts expect that Penumbra will post 2.81 earnings per share for the current year.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares of the company’s stock, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,219 shares of company stock worth $4,426,439 over the last 90 days. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new position in shares of Penumbra during the 3rd quarter worth approximately $26,000. UMB Bank n.a. increased its stake in shares of Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares in the last quarter. Hurley Capital LLC purchased a new position in shares of Penumbra during the 4th quarter worth approximately $56,000. Huntington National Bank increased its stake in shares of Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares in the last quarter. Finally, Mather Group LLC. increased its stake in shares of Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after purchasing an additional 208 shares in the last quarter. 88.88% of the stock is 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.