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

Penumbra, Inc. (NYSE:PEN) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, ten 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 covered the stock in the last year is $258.00.

Several analysts have issued reports on the company. Canaccord Genuity Group boosted their price objective on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial boosted their price target on shares of Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Oppenheimer assumed coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, Royal Bank of Canada raised their target price on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th.

Penumbra Stock Down 0.3 %

PEN stock opened at $237.48 on Friday. The firm has a market cap of $9.11 billion, a PE ratio of 276.14, a P/E/G ratio of 2.47 and a beta of 0.51. Penumbra has a 12 month low of $148.00 and a 12 month high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The firm has a 50 day simple moving average of $237.43 and a 200 day simple moving average of $206.42.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 EPS. Equities research analysts forecast that Penumbra will post 2.81 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Monday, October 21st. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the sale, the chief executive officer now owns 867,582 shares of the company’s stock, valued at approximately $177,472,573.92. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $239.74, for a total transaction of $143,844.00. Following the transaction, the executive vice president now directly owns 64,044 shares in the company, valued at $15,353,908.56. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,652 shares of company stock valued at $11,157,589. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its position in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares during the period. ProShare Advisors LLC raised its holdings in Penumbra by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after acquiring an additional 62 shares during the period. Legacy Wealth Asset Management LLC lifted its position in Penumbra by 3.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock worth $336,000 after acquiring an additional 65 shares during the last quarter. Creative Planning boosted its holdings in Penumbra by 4.7% during the third quarter. Creative Planning now owns 1,574 shares of the company’s stock valued at $306,000 after acquiring an additional 71 shares during the period. Finally, Arcadia Investment Management Corp MI grew its position in shares of Penumbra by 7.9% in the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock valued at $181,000 after purchasing an additional 74 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.