Penumbra (PEN) – Analysts’ Weekly Ratings Updates

Penumbra (NYSE: PEN) recently received a number of ratings updates from brokerages and research firms:

• 10/25/2024 – Penumbra had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 10/18/2024 – Penumbra had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $225.00 price target on the stock, up previously from $200.00.
• 10/16/2024 – Penumbra had its price target raised by analysts at Canaccord Genuity Group Inc. from $176.00 to $235.00. They now have a “buy” rating on the stock.
• 10/14/2024 – Penumbra had its price target raised by analysts at BTIG Research from $224.00 to $234.00. They now have a “buy” rating on the stock.
• 10/14/2024 – Penumbra had its price target raised by analysts at Truist Financial Co. from $200.00 to $235.00. They now have a “buy” rating on the stock.
• 10/8/2024 – Penumbra had its price target raised by analysts at Royal Bank of Canada from $205.00 to $222.00. They now have an “outperform” rating on the stock.
• 9/17/2024 – Penumbra is now covered by analysts at Stifel Nicolaus. They set a “buy” rating and a $238.00 price target on the stock.
• 9/3/2024 – Penumbra was upgraded by analysts at Leerink Partnrs to a “strong-buy” rating.
• 9/3/2024 – Penumbra is now covered by analysts at Leerink Partners. They set an “outperform” rating and a $263.00 price target on the stock.

Penumbra Trading Up 0.7 %

Shares of PEN stock opened at $206.17 on Monday. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34. The company’s 50-day moving average price is $198.70 and its 200-day moving average price is $193.58. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 86.99, a PEG ratio of 2.35 and a beta of 0.54.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The company had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. Penumbra’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. As a group, equities analysts predict that Penumbra, Inc. will post 2.58 earnings per share for the current year.

Insider Activity at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total transaction of $105,588.00. Following the completion of the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Monday, October 21st. The stock was sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the sale, the chief executive officer now directly owns 867,582 shares of the company’s stock, valued at approximately $177,472,573.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the completion of the sale, the executive vice president now owns 61,688 shares in the company, valued at $10,855,854.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,368 shares of company stock worth $6,893,118. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co increased its stake in shares of Penumbra by 112.1% during the first quarter. Diversified Trust Co now owns 6,720 shares of the company’s stock worth $1,500,000 after buying an additional 3,552 shares during the period. State of Michigan Retirement System lifted its position in Penumbra by 3.3% in the first quarter. State of Michigan Retirement System now owns 9,514 shares of the company’s stock valued at $2,123,000 after acquiring an additional 300 shares during the last quarter. Norden Group LLC acquired a new position in Penumbra in the first quarter valued at $4,515,000. Retirement Systems of Alabama grew its holdings in shares of Penumbra by 0.3% during the first quarter. Retirement Systems of Alabama now owns 48,467 shares of the company’s stock worth $10,817,000 after purchasing an additional 127 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Penumbra during the 1st quarter worth approximately $689,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

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.