Penumbra (NYSE:PEN) Now Covered by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Penumbra (NYSE:PEN) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $275.00 target price on the stock.

PEN has been the topic of several other research reports. Truist Financial upped their price target on Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company raised Penumbra from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Piper Sandler boosted their price objective on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Canaccord Genuity Group lifted their target price on shares of Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $254.15.

Penumbra Trading Up 0.1 %

Shares of Penumbra stock opened at $247.51 on Tuesday. The business has a fifty day simple moving average of $229.52 and a 200-day simple moving average of $202.69. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 287.80, a price-to-earnings-growth ratio of 2.47 and a beta of 0.51. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Penumbra’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. On average, equities analysts forecast that Penumbra will post 2.81 EPS for the current fiscal year.

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00. Following the completion of the sale, the chief executive officer now directly owns 882,582 shares of the company’s stock, valued at $174,495,287.22. The trade was a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the transaction, the executive vice president now owns 63,444 shares in the company, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,418 shares of company stock worth $10,624,973 in the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Penumbra

Several hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in shares of Penumbra by 8.2% in the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company’s stock worth $67,473,000 after buying an additional 24,091 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Penumbra by 2.7% in the 3rd quarter. Tidal Investments LLC now owns 5,008 shares of the company’s stock valued at $973,000 after acquiring an additional 130 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Penumbra in the 3rd quarter worth approximately $6,995,000. Sanctuary Advisors LLC bought a new stake in Penumbra during the third quarter worth approximately $367,000. Finally, Geode Capital Management LLC grew its holdings in Penumbra by 1.7% during the third quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock valued at $127,417,000 after purchasing an additional 11,257 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Company Profile

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.