Penumbra, Inc. (NYSE:PEN) Receives Consensus Rating of “Moderate Buy” from Analysts

Penumbra, Inc. (NYSE:PEN) has earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $261.36.

A number of equities analysts recently issued reports on PEN shares. Canaccord Genuity Group raised their target price on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. UBS Group started coverage on shares of Penumbra in a report on Tuesday. They issued a “buy” rating and a $305.00 price objective on the stock. Oppenheimer assumed coverage on shares of Penumbra in a report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 target price for the company. BTIG Research upped their price target on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial boosted their price objective on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, December 18th.

Penumbra Stock Up 1.8 %

Penumbra stock opened at $268.45 on Wednesday. Penumbra has a 1-year low of $148.00 and a 1-year high of $277.34. The business has a fifty day moving average price of $244.99 and a 200-day moving average price of $213.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 312.15, a PEG ratio of 1.93 and a beta of 0.52.

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

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the transaction, the chief executive officer now owns 852,582 shares in the company, valued at $202,300,656.96. This represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,819 shares of company stock valued at $8,129,483. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Penumbra

A number of hedge funds have recently made changes to their positions in PEN. Commonwealth Equity Services LLC purchased a new stake in shares of Penumbra during the second quarter worth approximately $215,000. Envestnet Asset Management Inc. boosted its stake in Penumbra by 234.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 63,015 shares of the company’s stock worth $11,341,000 after purchasing an additional 44,151 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Penumbra by 96.7% in the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company’s stock valued at $46,257,000 after buying an additional 126,392 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Penumbra by 4.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,312 shares of the company’s stock worth $776,000 after buying an additional 177 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Penumbra by 122.4% in the 2nd quarter. Hsbc Holdings PLC now owns 6,152 shares of the company’s stock worth $1,094,000 after purchasing an additional 3,386 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.