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

Shares of Penumbra, Inc. (NYSE:PEN) have been given an average rating of “Moderate Buy” by the eighteen ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $305.6875.

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of Penumbra from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Canaccord Genuity Group lifted their target price on Penumbra from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Robert W. Baird increased their price target on Penumbra from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Penumbra in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on Penumbra from $260.00 to $266.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 31st.

Penumbra Stock Up 3.2%

Shares of Penumbra stock opened at $288.86 on Tuesday. The firm has a market cap of $11.31 billion, a PE ratio of 76.82, a P/E/G ratio of 2.10 and a beta of 0.51. The business’s 50 day simple moving average is $256.55 and its 200 day simple moving average is $257.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. Penumbra has a 52-week low of $221.26 and a 52-week high of $310.00.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.07. The company had revenue of $354.69 million during the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the business earned $0.85 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, analysts predict that Penumbra will post 3.67 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Adam Elsesser sold 15,800 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $269.65, for a total value of $4,260,470.00. Following the sale, the chief executive officer directly owned 182,460 shares of the company’s stock, valued at approximately $49,200,339. This represents a 7.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $227.58, for a total transaction of $42,329.88. Following the completion of the sale, the director owned 8,516 shares of the company’s stock, valued at $1,938,071.28. This trade represents a 2.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 18,530 shares of company stock worth $4,961,586. 4.20% of the stock is owned by insiders.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mather Group LLC. bought a new position in shares of Penumbra during the 3rd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Penumbra during the 2nd quarter valued at $30,000. Rothschild Investment LLC bought a new position in Penumbra during the third quarter worth $40,000. Parkside Financial Bank & Trust increased its holdings 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 purchasing an additional 66 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Penumbra by 53.0% in the third quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

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.