Penumbra, Inc. (NYSE:PEN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Penumbra, Inc. (NYSE:PEN) has received an average rating of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $292.64.

Several equities analysts have commented on the stock. Citigroup upped their price objective on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price objective on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada upped their price objective on shares of Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Truist Financial upped their price objective on shares of Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday.

Penumbra Stock Performance

NYSE PEN opened at $292.52 on Friday. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $259.09 and its two-hundred day moving average price is $227.84. Penumbra has a 1 year low of $148.00 and a 1 year high of $310.00. The firm has a market capitalization of $11.27 billion, a P/E ratio of 860.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. As a group, research analysts anticipate that Penumbra will post 3.67 EPS for the current year.

Insider Activity at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the sale, the executive vice president now owns 63,444 shares of the company’s stock, valued at $15,511,423.56. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the sale, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,219 shares of company stock worth $4,426,439. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently bought and sold shares of the company. True Wealth Design LLC bought a new stake in Penumbra during the third quarter worth about $26,000. GAMMA Investing LLC lifted its holdings in shares of Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after acquiring an additional 70 shares during the last quarter. Hurley Capital LLC bought a new position in shares of Penumbra in the fourth quarter worth about $56,000. Finally, Huntington National Bank lifted its holdings in shares of Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after acquiring an additional 154 shares during the last quarter. 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.