Penumbra (NYSE:PEN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Penumbra (NYSE:PEN) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Several other research firms have also commented on PEN. Wells Fargo & Company lowered their price target on shares of Penumbra from $315.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Canaccord Genuity Group set a $350.00 target price on Penumbra and gave the stock a “buy” rating in a research note on Wednesday, July 30th. William Blair raised Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Royal Bank Of Canada reduced their price target on Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a research report on Wednesday, July 30th. Finally, Robert W. Baird upped their price objective on Penumbra from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Penumbra currently has an average rating of “Moderate Buy” and a consensus price target of $300.47.

Penumbra Stock Performance

PEN opened at $272.96 on Friday. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. Penumbra has a 12-month low of $184.80 and a 12-month high of $310.00. The firm has a 50 day moving average of $247.69 and a two-hundred day moving average of $265.41. The firm has a market capitalization of $10.65 billion, a PE ratio of 72.60, a P/E/G ratio of 2.45 and a beta of 0.45.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, analysts anticipate that Penumbra will post 3.67 EPS for the current year.

Insiders Place Their Bets

In related news, Director Arani Bose sold 12,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total value of $3,007,800.00. Following the completion of the sale, the director owned 558 shares of the company’s stock, valued at approximately $139,862.70. The trade was a 95.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the transaction, the executive vice president directly owned 66,057 shares in the company, valued at approximately $16,692,603.90. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,487 shares of company stock valued at $27,494,779. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Institutional investors and hedge funds have recently modified their holdings of the stock. Synergy Investment Management LLC purchased a new position in Penumbra in the 1st quarter valued at about $27,000. First Horizon Advisors Inc. increased its stake in Penumbra by 404.8% during the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock worth $28,000 after buying an additional 85 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Penumbra during the second quarter valued at approximately $30,000. Parkside Financial Bank & Trust lifted its position in shares of Penumbra by 70.2% in the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after acquiring an additional 66 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Penumbra in the second quarter worth approximately $64,000. Hedge funds and other institutional investors 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.