Penumbra (NYSE:PEN) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of Penumbra (NYSE:PEN) in a report published on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $305.00 target price on the stock.

A number of other research firms also recently issued reports on PEN. BTIG Research raised 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. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Citigroup lifted their target price on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Truist Financial upped their target price on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group raised their price target on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four 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. According to MarketBeat, Penumbra has an average rating of “Moderate Buy” and an average price target of $261.36.

Penumbra Stock Down 0.9 %

NYSE:PEN opened at $273.27 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 317.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.52. Penumbra has a one year low of $148.00 and a one year high of $277.89. The stock has a 50-day simple moving average of $246.43 and a 200 day simple moving average of $214.64.

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

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the transaction, the executive vice president now owns 64,044 shares in the company, valued at $15,353,908.56. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,819 shares of company stock worth $8,129,483. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Penumbra

Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares during the period. Thrivent Financial for Lutherans lifted its position in Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after purchasing an additional 358,932 shares during the period. Vontobel Holding Ltd. acquired a new stake in Penumbra during the third quarter worth $1,092,000. AlphaCentric Advisors LLC bought a new stake in Penumbra in the 3rd quarter valued at $777,000. Finally, LMR Partners LLP acquired a new position in shares of Penumbra in the 3rd quarter valued at $2,330,000. Institutional investors own 88.88% of the company’s stock.

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.