Penumbra (NYSE:PEN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Penumbra (NYSE:PEN) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

PEN has been the topic of several other research reports. Piper Sandler restated an “overweight” rating and issued a $330.00 price target (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised their price target on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Oppenheimer began coverage on shares of Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Finally, Truist Financial lifted their price objective on shares of Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.64.

Penumbra Trading Up 1.4 %

NYSE PEN opened at $285.36 on Friday. Penumbra has a one year low of $148.00 and a one year high of $310.00. The company’s 50 day moving average price is $263.25 and its 200 day moving average price is $231.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 839.29, a PEG 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 EPS for the quarter, beating 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. On average, sell-side analysts predict that Penumbra will post 3.67 EPS for the current year.

Insiders Place Their Bets

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now directly owns 837,582 shares of the company’s stock, valued at approximately $203,498,922.72. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lambert Shiu sold 654 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $243.01, for a total transaction of $158,928.54. Following the sale, the chief accounting officer now directly owns 20,028 shares in the company, valued at $4,867,004.28. This trade represents a 3.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,421 shares of company stock valued at $3,990,316 in the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC acquired a new stake in shares of Penumbra during the third quarter worth $26,000. UMB Bank n.a. raised its holdings in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares during the period. Hurley Capital LLC bought a new position in Penumbra during the 4th quarter worth $56,000. Huntington National Bank increased its position in Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after buying an additional 154 shares during the period. Finally, Mather Group LLC. increased its position in Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

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.