Penumbra, Inc. (NYSE:PEN) Receives $261.36 Average Target Price from Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $261.36.

A number of brokerages have recently issued reports on PEN. Robert W. Baird upped their price target on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. BTIG Research raised their price objective on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. UBS Group began coverage on Penumbra in a research note on Tuesday, January 21st. They set a “buy” rating and a $305.00 target price for the company. Finally, Canaccord Genuity Group raised their target price on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research report on Monday, December 9th.

Penumbra Trading Up 0.2 %

Shares of NYSE PEN opened at $274.25 on Wednesday. Penumbra has a twelve month low of $148.00 and a twelve month high of $277.89. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 318.89, a P/E/G ratio of 2.02 and a beta of 0.52. The company’s fifty day moving average is $247.95 and its 200-day moving average is $215.97.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. Equities research analysts predict that Penumbra will post 2.81 EPS for the current year.

Insider Transactions at Penumbra

In related news, CAO Lambert Shiu sold 1,798 shares of Penumbra 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 of the company’s stock, valued at approximately $5,016,625.92. This trade represents a 8.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,819 shares of company stock worth $8,129,483 in the last quarter. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PEN. True Wealth Design LLC purchased a new position in Penumbra in the third quarter valued at about $26,000. GAMMA Investing LLC boosted its holdings in shares of Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. UMB Bank n.a. grew its position in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares during the period. Park Place Capital Corp lifted its holdings in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares during the period. 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.