Penumbra (NYSE:PEN) Price Target Raised to $328.00

Penumbra (NYSE:PEN) had its price target upped by Robert W. Baird from $305.00 to $328.00 in a research note released on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other brokerages also recently commented on PEN. Wells Fargo & Company raised Penumbra from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Citigroup raised their price target on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Piper Sandler upped their price target on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Finally, Truist Financial raised their price objective on shares of Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and a consensus price target of $292.64.

Penumbra Stock Down 3.5 %

PEN opened at $292.52 on Wednesday. Penumbra has a 1 year low of $148.00 and a 1 year high of $310.00. The firm has a 50 day moving average price of $258.16 and a 200 day moving average price of $227.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The company has a market cap of $11.27 billion, a PE ratio of 860.35, a price-to-earnings-growth ratio of 2.23 and a beta of 0.53.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping 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 return on equity of 9.74% and a net margin of 1.17%. Sell-side analysts expect that Penumbra will post 3.86 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the transaction, the chief executive officer now owns 837,582 shares in the company, valued at approximately $203,498,922.72. This represents a 1.76 % decrease in their position. The transaction 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 Penumbra stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now directly owns 8,530 shares in the company, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,219 shares of company stock worth $4,426,439. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PEN. China Universal Asset Management Co. Ltd. acquired a new stake in Penumbra in the fourth quarter worth approximately $573,000. State Street Corp increased its holdings in shares of Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after buying an additional 3,863 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after purchasing an additional 358,932 shares during the last quarter. E. Ohman J or Asset Management AB lifted its stake in Penumbra by 10.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock valued at $5,061,000 after buying an additional 2,000 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Penumbra in the 3rd quarter valued at approximately $777,000. 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.