Analysts Set Penumbra, Inc. (NYSE:PEN) Target Price at $358.00

Shares of Penumbra, Inc. (NYSE:PEN) have been given a consensus rating of “Hold” by the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. Fourteen research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $358.00.

Several research firms recently issued reports on PEN. William Blair cut Penumbra from an “outperform” rating to a “market perform” rating in a report on Thursday, January 15th. Bank of America lifted their price target on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Evercore ISI reissued an “outperform” rating and issued a $340.00 price objective on shares of Penumbra in a research note on Monday, January 5th. Wall Street Zen lowered Penumbra from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Citigroup cut shares of Penumbra from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $350.00 to $374.00 in a research note on Thursday, January 15th.

Insider Buying and Selling at Penumbra

In related news, Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the transaction, the director directly owned 8,230 shares in the company, valued at approximately $2,573,027.20. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 1,800 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $300.06, for a total transaction of $540,108.00. Following the sale, the executive vice president directly owned 64,736 shares of the company’s stock, valued at approximately $19,424,684.16. This represents a 2.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 33,772 shares of company stock valued at $10,175,467. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Penumbra

A number of institutional investors have recently bought and sold shares of PEN. Mather Group LLC. acquired a new stake in Penumbra in the 3rd quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Penumbra during the second quarter worth $30,000. Morse Asset Management Inc purchased a new position in shares of Penumbra during the fourth quarter worth $39,000. Rothschild Investment LLC acquired a new stake in shares of Penumbra in the third quarter valued at $40,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after buying an additional 66 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Price Performance

Penumbra stock opened at $356.22 on Friday. The stock has a market capitalization of $13.95 billion, a P/E ratio of 85.22, a P/E/G ratio of 2.20 and a beta of 0.82. The company’s fifty day moving average price is $321.41 and its 200 day moving average price is $279.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73. Penumbra has a 1 year low of $221.26 and a 1 year high of $362.41.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.07. The business had revenue of $354.69 million for the quarter, compared to the consensus estimate of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. As a group, equities research analysts anticipate that Penumbra will post 3.67 earnings per share for the current fiscal year.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.