Penumbra (NYSE:PEN) Coverage Initiated at UBS Group

UBS Group began coverage on shares of Penumbra (NYSE:PEN) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $305.00 price target on the stock. UBS Group’s target price points to a potential upside of 10.50% from the stock’s previous close.

Several other research firms have also recently weighed in on PEN. Royal Bank of Canada increased their price objective on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Citigroup lifted their price target on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Oppenheimer initiated coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, BTIG Research increased their price target on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.36.

Penumbra Price Performance

PEN stock opened at $276.01 on Tuesday. The firm has a 50 day simple moving average of $245.63 and a two-hundred day simple moving average of $214.20. The stock has a market cap of $10.59 billion, a PE ratio of 320.94, a P/E/G ratio of 1.93 and a beta of 0.52. Penumbra has a one year low of $148.00 and a one year high of $277.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25.

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

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the completion of the transaction, the executive vice president now directly owns 64,044 shares of the company’s stock, valued at approximately $15,353,908.56. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction on Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the transaction, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at $5,016,625.92. The trade was a 8.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,819 shares of company stock valued at $8,129,483. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in Penumbra by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after buying an additional 57 shares in the last quarter. KBC Group NV boosted its stake in shares of Penumbra by 41.9% in the fourth quarter. KBC Group NV now owns 1,445 shares of the company’s stock worth $343,000 after acquiring an additional 427 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Penumbra by 43.4% in the fourth quarter. Blue Trust Inc. now owns 730 shares of the company’s stock worth $173,000 after acquiring an additional 221 shares during the last quarter. UMB Bank n.a. increased its position 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 in the last quarter. Finally, Diversify Wealth Management LLC raised its stake in Penumbra by 36.3% in the 4th quarter. Diversify Wealth Management LLC now owns 1,645 shares of the company’s stock valued at $412,000 after purchasing an additional 438 shares during the last quarter. Institutional investors and hedge funds 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.