Penumbra (NYSE:PEN) Price Target Raised to $320.00

Penumbra (NYSE:PEN) had its price target increased by UBS Group from $305.00 to $320.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on PEN. Citigroup increased their price target on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group increased their price target on Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. BTIG Research increased their price target on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and set a $330.00 price objective (up from $250.00) on shares of Penumbra in a research report on Wednesday. Finally, Morgan Stanley boosted their price objective on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $292.64.

Penumbra Trading Down 3.5 %

Shares of Penumbra stock opened at $292.52 on Wednesday. Penumbra has a 12-month low of $148.00 and a 12-month high of $310.00. The stock has a market cap of $11.27 billion, a P/E ratio of 860.35, a P/E/G ratio of 2.23 and a beta of 0.53. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $258.16 and its 200-day moving average is $227.04.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Equities research analysts predict that Penumbra will post 3.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares in the company, valued at approximately $203,498,922.72. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. This represents a 8.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,219 shares of company stock worth $4,426,439. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Several large investors have recently made changes to their positions in PEN. Creative Planning boosted its position in shares of Penumbra by 4.7% during the 3rd quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after acquiring an additional 71 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Penumbra by 808.9% during the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company’s stock worth $92,000 after acquiring an additional 453 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Penumbra by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 214,113 shares of the company’s stock worth $41,604,000 after acquiring an additional 3,973 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Penumbra during the 3rd quarter worth approximately $244,000. Finally, E. Ohman J or Asset Management AB lifted its stake in Penumbra by 26.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 19,312 shares of the company’s stock valued at $3,753,000 after purchasing an additional 4,000 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.