Penumbra, Inc. (NYSE:PEN) Receives $226.67 Consensus PT from Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $226.67.

Several analysts have recently weighed in on the company. Canaccord Genuity Group boosted their price target on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird boosted their target price on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Citigroup raised their price target on shares of Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Finally, Leerink Partnrs raised Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd.

Penumbra Stock Performance

NYSE PEN opened at $236.31 on Friday. The firm’s 50 day simple moving average is $204.71 and its 200 day simple moving average is $195.02. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 277.76, a P/E/G ratio of 2.40 and a beta of 0.51. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra has a 1 year low of $148.00 and a 1 year high of $277.34.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.69 by $0.16. The firm 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 business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. As a group, research analysts expect that Penumbra will post 2.79 earnings per share for the current fiscal year.

Penumbra announced that its board has authorized a stock buyback plan on Tuesday, August 13th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total value of $114,456.00. Following the completion of the sale, the executive vice president now owns 60,488 shares of the company’s stock, valued at $11,538,690.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total value of $114,456.00. Following the sale, the executive vice president now owns 60,488 shares of the company’s stock, valued at $11,538,690.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Elsesser sold 1,620 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total value of $324,000.00. Following the completion of the sale, the chief executive officer now directly owns 925,962 shares in the company, valued at $185,192,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,768 shares of company stock worth $6,787,530. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norden Group LLC purchased a new stake in shares of Penumbra in the 1st quarter worth approximately $321,000. Janney Montgomery Scott LLC purchased a new position in shares of Penumbra in the 1st quarter worth about $689,000. Texas Permanent School Fund Corp boosted its stake in Penumbra by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 33,779 shares of the company’s stock worth $7,539,000 after purchasing an additional 438 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Penumbra during the 1st quarter valued at about $241,000. Finally, Swiss National Bank increased its stake in Penumbra by 0.6% during the 1st quarter. Swiss National Bank now owns 72,400 shares of the company’s stock valued at $16,158,000 after purchasing an additional 400 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

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.