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

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $261.36.

PEN has been the topic of several research reports. Robert W. Baird lifted their target price on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Truist Financial lifted their price objective on Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup increased their target price on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Piper Sandler raised their target price on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada upped their price target on shares of Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th.

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total value of $3,559,200.00. Following the transaction, the chief executive officer now owns 852,582 shares of the company’s stock, valued at $202,300,656.96. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,819 shares of company stock worth $8,129,483 over the last 90 days. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in shares of Penumbra in the 3rd quarter valued at $26,000. GAMMA Investing LLC boosted its position in Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. UMB Bank n.a. grew its stake in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the last quarter. Park Place Capital Corp grew its stake in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after purchasing an additional 339 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 in the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Trading Up 1.8 %

PEN stock opened at $268.45 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra has a 1-year low of $148.00 and a 1-year high of $277.34. The business has a 50 day simple moving average of $244.99 and a two-hundred day simple moving average of $213.59. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 312.15, a PEG ratio of 1.93 and a beta of 0.52.

Penumbra (NYSE:PEN) last issued its earnings results 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 firm had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Penumbra’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. Research analysts anticipate that Penumbra will post 2.81 EPS for the current fiscal year.

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.