Penumbra, Inc. (NYSE:PEN) Receives $361.69 Consensus PT from Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have been given a consensus rating of “Hold” by the seventeen analysts that are currently covering the firm, MarketBeat reports. Fourteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $364.60.

Several equities analysts have weighed in on the stock. Piper Sandler downgraded shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 target price for the company. in a report on Thursday, January 15th. Truist Financial lowered shares of Penumbra from a “buy” rating to a “hold” rating and increased their price target for the company from $370.00 to $374.00 in a research report on Friday, January 16th. Citigroup cut shares of Penumbra from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $350.00 to $374.00 in a research note on Thursday, January 15th. William Blair downgraded Penumbra from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research note on Monday, December 29th.

Penumbra Stock Up 0.3%

Penumbra stock opened at $333.35 on Friday. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 73.75, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The stock’s fifty day moving average is $335.45 and its two-hundred day moving average is $311.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.29 and a current ratio of 6.64.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($1.49). Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The firm had revenue of $385.39 million for the quarter, compared to analyst estimates of $367.18 million. During the same period last year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts predict that Penumbra will post 5.08 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, CFO Maggie Yuen sold 2,432 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total value of $832,473.60. Following the sale, the chief financial officer directly owned 18,353 shares in the company, valued at $6,282,231.90. This represents a 11.70% 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 100 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total value of $32,822.00. Following the sale, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Penumbra

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Penumbra by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock valued at $238,365,000 after buying an additional 18,738 shares during the period. Invesco Ltd. grew its stake in Penumbra by 1.1% in the 4th quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock worth $198,455,000 after acquiring an additional 7,211 shares during the period. Artisan Partners Limited Partnership raised its holdings in Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after acquiring an additional 370,636 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Penumbra by 1.5% during the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock worth $147,962,000 after purchasing an additional 7,050 shares during the period. Finally, Capital World Investors lifted its stake in shares of Penumbra by 2.6% during the 4th quarter. Capital World Investors now owns 426,456 shares of the company’s stock worth $132,589,000 after purchasing an additional 10,724 shares during the period. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

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.