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

Penumbra, Inc. (NYSE:PEN) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $258.00.

A number of analysts have commented on the company. BTIG Research raised their price objective on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Oppenheimer assumed coverage on Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price for the company. Robert W. Baird boosted their price target on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Truist Financial upped their target price on shares of Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th.

Penumbra Trading Down 0.3 %

Shares of PEN stock opened at $237.48 on Friday. The firm has a market capitalization of $9.11 billion, a P/E ratio of 276.14, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. Penumbra has a 1 year low of $148.00 and a 1 year high of $277.34. The firm’s fifty day simple moving average is $237.43 and its 200 day simple moving average is $206.42. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Penumbra will post 2.81 EPS for the current year.

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the completion of the sale, the executive vice president now directly owns 64,044 shares in the company, valued at approximately $15,353,908.56. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated 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 transaction, the chief executive officer now directly owns 867,582 shares of the company’s stock, valued at $177,472,573.92. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,652 shares of company stock valued at $11,157,589 in the last three months. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Penumbra

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new position in shares of Penumbra during the third quarter worth approximately $26,000. GAMMA Investing LLC raised its position in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Park Place Capital Corp lifted its holdings in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after buying an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after buying an additional 369 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.