Penumbra (NYSE:PEN) Given New $325.00 Price Target at Truist Financial

Penumbra (NYSE:PEN) had its price target raised by equities research analysts at Truist Financial from $285.00 to $325.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 5.92% from the stock’s previous close.

PEN has been the topic of several other research reports. Wells Fargo & Company lifted their price target on Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group boosted their target price on Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday. Oppenheimer began coverage on Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective on the stock. Finally, Robert W. Baird upped their price objective on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.14.

Penumbra Stock Up 13.2 %

PEN stock traded up $35.69 during trading on Wednesday, hitting $306.83. 975,700 shares of the company’s stock were exchanged, compared to its average volume of 494,812. The business has a 50-day moving average price of $256.15 and a two-hundred day moving average price of $225.97. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 357.05, a PEG ratio of 1.97 and a beta of 0.53. Penumbra has a 52-week low of $148.00 and a 52-week high of $307.32. 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 earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. As a group, equities research analysts expect that Penumbra will post 2.81 EPS for the current year.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was 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 owns 63,444 shares of the company’s stock, valued at approximately $15,511,423.56. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,219 shares of company stock valued at $4,426,439. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. acquired a new position in shares of Penumbra in the 4th quarter worth approximately $573,000. State Street Corp raised its position in Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after purchasing an additional 3,863 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after purchasing an additional 358,932 shares during the last quarter. E. Ohman J or Asset Management AB raised its position in 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 worth $5,061,000 after purchasing an additional 2,000 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in Penumbra in the 3rd quarter worth approximately $777,000. 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.