Penumbra (NYSE:PEN) Price Target Raised to $325.00 at Truist Financial

Penumbra (NYSE:PEN) had its target price increased by Truist Financial from $285.00 to $325.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Wells Fargo & Company upped their target price on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley upped their target price on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup increased their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $330.00 price objective (up from $250.00) on shares of Penumbra in a report on Wednesday. Finally, Oppenheimer assumed coverage on shares of Penumbra in a report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.64.

Penumbra Price Performance

NYSE:PEN opened at $303.55 on Wednesday. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 352.97, a price-to-earnings-growth ratio of 1.97 and a beta of 0.53. 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’s 50-day moving average is $256.15 and its two-hundred day moving average is $225.97. Penumbra has a 12-month low of $148.00 and a 12-month high of $310.00.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Research analysts expect that Penumbra will post 2.81 EPS for the current year.

Insider Activity at Penumbra

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the completion of the sale, the chief accounting officer now owns 20,682 shares of the company’s stock, valued at $5,016,625.92. This trade represents a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the stock in a transaction that occurred on 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 $2,058,118.40. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,219 shares of company stock worth $4,426,439. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of hedge funds have recently made changes to their positions in PEN. True Wealth Design LLC bought a new position in Penumbra during the third quarter worth $26,000. UMB Bank n.a. lifted its stake in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares during the last quarter. Hurley Capital LLC bought a new position in Penumbra during the fourth quarter worth $56,000. Huntington National Bank lifted its stake in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after purchasing an additional 208 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.