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

Penumbra, Inc. (NYSE:PEN) has been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $293.80.

Several equities analysts have recently commented on PEN shares. Robert W. Baird boosted their price objective on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their price target on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Canaccord Genuity Group increased their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Truist Financial lowered their target price on shares of Penumbra from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley raised their target price on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th.

Insider Transactions at Penumbra

In other news, Director Thomas Wilder sold 360 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $266.93, for a total value of $96,094.80. Following the sale, the director now directly owns 4,692 shares in the company, valued at approximately $1,252,435.56. This represents a 7.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 61,600 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares of the company’s stock, valued at approximately $4,644,069.84. The trade was a 79.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,236 shares of company stock worth $31,222,390. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 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 acquiring an additional 70 shares during the period. Hurley Capital LLC bought a new position in Penumbra in the fourth quarter worth approximately $56,000. Huntington National Bank increased its holdings in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares during the period. Mather Group LLC. raised its position in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Penumbra by 893.5% in the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock worth $82,000 after buying an additional 277 shares during the period. Institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

NYSE PEN opened at $272.44 on Monday. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 801.28, a PEG ratio of 2.83 and a beta of 0.56. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The company’s 50 day moving average is $274.33 and its two-hundred day moving average is $248.80. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, research analysts anticipate that Penumbra will post 3.67 earnings per share for the current year.

Penumbra Company Profile

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.