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

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $230.92.

PEN has been the topic of several recent analyst reports. Truist Financial increased their target price on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus initiated coverage on Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 target price on the stock. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Leerink Partners began coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price objective for the company. Finally, BTIG Research upped their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 of the company’s stock, valued at approximately $15,353,908.56. This represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the sale, the chief executive officer now directly owns 852,582 shares of the company’s stock, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,148 shares of company stock valued at $10,042,842 in the last ninety days. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in Penumbra by 276.9% during the first quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock valued at $1,109,000 after purchasing an additional 3,652 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after purchasing an additional 358,932 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Penumbra during the second quarter valued at approximately $17,943,000. Vontobel Holding Ltd. acquired a new stake in shares of Penumbra during the third quarter valued at approximately $1,092,000. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Penumbra during the third quarter valued at approximately $777,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Up 0.3 %

Penumbra stock opened at $244.86 on Tuesday. Penumbra has a twelve month low of $148.00 and a twelve month high of $277.34. The stock’s fifty day simple moving average is $217.76 and its 200-day simple moving average is $198.74. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9.40 billion, a P/E ratio of 284.72, a P/E/G ratio of 2.46 and a beta of 0.51.

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

Penumbra declared that its board has initiated a share repurchase plan on Tuesday, August 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.