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

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

Several brokerages have commented on PEN. Oppenheimer assumed coverage on shares of Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target for the company. Piper Sandler lifted their target price on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Robert W. Baird boosted their target price on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. BTIG Research increased their price target on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st.

Penumbra Price Performance

PEN stock opened at $239.85 on Friday. The business’s fifty day moving average price is $235.50 and its 200 day moving average price is $205.30. Penumbra has a 12-month low of $148.00 and a 12-month high of $277.34. 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 company has a market capitalization of $9.21 billion, a PE ratio of 278.90, a P/E/G ratio of 2.47 and a beta of 0.51.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $297.36 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Penumbra will post 2.81 EPS for the current year.

Insider Activity at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total value of $114,456.00. Following the transaction, the executive vice president now directly owns 60,488 shares of the company’s stock, valued at $11,538,690.88. The trade was a 0.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $204.56, for a total transaction of $3,068,400.00. Following the transaction, the chief executive officer now directly owns 867,582 shares in the company, valued at $177,472,573.92. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,418 shares of company stock valued at $11,303,723 over the last ninety days. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Several hedge funds have recently made changes to their positions in PEN. Advisors Asset Management Inc. lifted its position in Penumbra by 11.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 43 shares during the period. ProShare Advisors LLC boosted its stake in shares of Penumbra by 2.9% in the second quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after buying an additional 62 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in Penumbra by 3.9% during the third 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 period. Creative Planning raised its position in Penumbra by 4.7% in the third quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after acquiring an additional 71 shares in the last quarter. Finally, Arcadia Investment Management Corp MI lifted its holdings in 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 acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.