Penumbra, Inc. (NYSE:PEN) Given Average Recommendation of “Moderate Buy” by Brokerages

Penumbra, Inc. (NYSE:PEN) has been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $340.40.

PEN has been the subject of a number of research analyst reports. Robert W. Baird set a $345.00 target price on shares of Penumbra in a report on Tuesday, December 16th. Canaccord Genuity Group raised their price objective on Penumbra from $355.00 to $359.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Wells Fargo & Company assumed coverage on Penumbra in a report on Tuesday, November 18th. They set an “underweight” rating for the company. Bank of America boosted their target price on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Citigroup upgraded Penumbra from a “neutral” rating to a “buy” rating and raised their price target for the company from $285.00 to $350.00 in a research report on Thursday, December 11th.

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 1,800 shares of Penumbra stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $300.06, for a total transaction of $540,108.00. Following the completion of the transaction, the executive vice president directly owned 64,736 shares in the company, valued at $19,424,684.16. The trade was a 2.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harpreet Grewal sold 186 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $227.58, for a total value of $42,329.88. Following the sale, the director owned 8,516 shares in the company, valued at approximately $1,938,071.28. This trade represents a 2.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 34,144 shares of company stock valued at $10,260,127. Insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of large investors have recently made changes to their positions in the stock. Abbot Financial Management Inc. raised its stake in Penumbra by 1.3% in the 3rd quarter. Abbot Financial Management Inc. now owns 3,254 shares of the company’s stock valued at $824,000 after purchasing an additional 42 shares during the last quarter. Glenview Trust Co grew its holdings in shares of Penumbra by 5.0% during the third quarter. Glenview Trust Co now owns 904 shares of the company’s stock worth $229,000 after buying an additional 43 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Penumbra by 0.5% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 8,693 shares of the company’s stock valued at $2,202,000 after buying an additional 47 shares during the last quarter. GAMMA Investing LLC boosted its position in Penumbra by 7.3% during the second quarter. GAMMA Investing LLC now owns 761 shares of the company’s stock worth $195,000 after acquiring an additional 52 shares during the last quarter. Finally, Covestor Ltd grew its stake in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Down 0.3%

Penumbra stock opened at $300.20 on Wednesday. The stock’s 50 day moving average price is $298.36 and its 200 day moving average price is $267.97. Penumbra has a 1-year low of $221.26 and a 1-year high of $325.02. The company has a market cap of $11.76 billion, a PE ratio of 71.76, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The company had revenue of $354.69 million during the quarter, compared to the consensus estimate of $340.77 million. During the same quarter last year, the company earned $0.85 earnings per share. Penumbra’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts predict that Penumbra will post 3.67 EPS for the current fiscal year.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.