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

Penumbra, Inc. (NYSE:PEN) has been given an average recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $302.40.

A number of analysts have recently weighed in on PEN shares. Morgan Stanley upped their price target on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Piper Sandler reissued an “overweight” rating and set a $330.00 target price (up from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. UBS Group reaffirmed a “buy” rating and issued a $330.00 price target (up previously from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Finally, Truist Financial increased their price target on Penumbra from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, April 24th.

Penumbra Stock Down 0.3 %

Shares of NYSE:PEN opened at $292.21 on Friday. Penumbra has a 1-year low of $148.00 and a 1-year high of $310.00. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 859.43, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The company’s fifty day moving average is $277.36 and its two-hundred day moving average is $259.15.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. The firm had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Penumbra’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. Equities analysts anticipate that Penumbra will post 3.67 EPS for the current year.

Insider Activity

In related news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $299.01, for a total value of $598,020.00. Following the completion of the sale, the chief financial officer now owns 13,957 shares of the company’s stock, valued at approximately $4,173,282.57. The trade was a 12.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the transaction, the executive vice president now directly owns 66,539 shares in the company, valued at approximately $19,125,304.77. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 142,446 shares of company stock worth $40,141,973 in the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Penumbra during the fourth quarter valued at about $54,396,000. T. Rowe Price Investment Management Inc. increased its position in Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock worth $167,913,000 after buying an additional 227,506 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Penumbra by 42,409.9% during the first quarter. GAMMA Investing LLC now owns 189,594 shares of the company’s stock worth $50,699,000 after buying an additional 189,148 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Penumbra by 487.1% in the first quarter. Los Angeles Capital Management LLC now owns 179,550 shares of the company’s stock valued at $48,013,000 after acquiring an additional 148,968 shares during the period. Finally, Baillie Gifford & Co. grew its stake in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after acquiring an additional 138,387 shares during the last quarter. 88.88% of the stock is owned by 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.