Penumbra (NYSE:PEN) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Penumbra (NYSE:PEN) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $305.00 price target on the stock.

PEN has been the topic of several other reports. Wells Fargo & Company raised Penumbra from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $190.00 to $275.00 in a report on Wednesday, December 11th. 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 report on Wednesday, December 18th. Canaccord Genuity Group upped their target price on shares of Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. BTIG Research raised their price target on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Robert W. Baird boosted their price objective on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.36.

Penumbra Stock Performance

NYSE PEN opened at $268.45 on Tuesday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra has a 12-month low of $148.00 and a 12-month high of $277.34. The company has a 50-day simple moving average of $244.99 and a two-hundred day simple moving average of $213.59. The firm has a market cap 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 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 firm 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 business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. On average, equities analysts forecast that Penumbra will post 2.81 EPS for the current year.

Insider Activity at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra 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 transaction, the chief executive officer now directly owns 852,582 shares in the company, valued at $202,300,656.96. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lambert Shiu sold 1,798 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88. Following the transaction, the chief accounting officer now directly owns 20,682 shares in the company, valued at $5,016,625.92. The trade was a 8.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,819 shares of company stock worth $8,129,483 in the last 90 days. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Penumbra

Institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after buying an additional 3,863 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after buying an additional 358,932 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of Penumbra during the 3rd quarter valued at $1,092,000. AlphaCentric Advisors LLC acquired a new stake in Penumbra during the third quarter valued at $777,000. Finally, LMR Partners LLP purchased a new position in Penumbra in the third quarter valued at about $2,330,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

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.