Penumbra (NYSE:PEN) Earns Hold Rating from Needham & Company LLC

Penumbra (NYSE:PEN)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

PEN has been the topic of a number of other research reports. Robert W. Baird raised their price target on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group initiated coverage on Penumbra in a research report on Tuesday, January 21st. They set a “buy” rating and a $305.00 price objective for the company. Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $190.00 to $275.00 in a research note on Wednesday, December 11th. Truist Financial raised their price objective on shares of Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. 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 report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.07.

Penumbra Price Performance

Shares of PEN opened at $270.99 on Wednesday. Penumbra has a twelve month low of $148.00 and a twelve month high of $277.89. The company has a market capitalization of $10.40 billion, a P/E ratio of 315.10, a price-to-earnings-growth ratio of 1.97 and a beta of 0.53. The firm has a 50 day moving average of $255.58 and a 200 day moving average of $225.29. 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 posted its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. As a group, equities research analysts anticipate that Penumbra will post 2.81 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total transaction of $146,694.00. Following the sale, the executive vice president now owns 63,444 shares in the company, valued at $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the transaction, the chief accounting officer now owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. This represents a 8.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,219 shares of company stock worth $4,426,439 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Several hedge funds have recently bought and sold shares of PEN. FMR LLC grew its position in shares of Penumbra by 2.1% during the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after purchasing an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in Penumbra by 20.6% during the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after buying an additional 264,122 shares during the last quarter. State Street Corp grew its holdings in Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after buying an additional 3,863 shares in the last quarter. RTW Investments LP increased its stake in Penumbra by 8.4% in the 4th quarter. RTW Investments LP now owns 862,450 shares of the company’s stock worth $204,815,000 after acquiring an additional 66,700 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after acquiring an additional 138,387 shares during the last quarter. Hedge funds and other institutional investors 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.