Penumbra (NYSE:PEN) Sets New 1-Year High – Should You Buy?

Penumbra, Inc. (NYSE:PEN) hit a new 52-week high on Thursday . The company traded as high as $311.56 and last traded at $312.8160, with a volume of 93587 shares. The stock had previously closed at $303.07.

Analyst Ratings Changes

A number of brokerages have commented on PEN. Truist Financial decreased their price objective on Penumbra from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Citigroup raised shares of Penumbra from a “neutral” rating to a “buy” rating and raised their price target for the stock from $285.00 to $350.00 in a research report on Thursday. BTIG Research reissued a “buy” rating and issued a $320.00 price objective on shares of Penumbra in a report on Monday, October 27th. Finally, Canaccord Genuity Group increased their target price on shares of Penumbra from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Penumbra currently has a consensus rating of “Moderate Buy” and a consensus price target of $309.75.

Penumbra Stock Performance

The company’s 50-day simple moving average is $266.75 and its 200-day simple moving average is $258.56. The stock has a market capitalization of $12.22 billion, a price-to-earnings ratio of 74.51, a PEG ratio of 2.37 and a beta of 0.66. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.07. The company had revenue of $354.69 million for the quarter, compared to analysts’ expectations of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. Penumbra’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 300 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $300.13, for a total value of $90,039.00. Following the sale, the executive vice president directly owned 63,836 shares of the company’s stock, valued at approximately $19,159,098.68. This represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arani Bose sold 7,500 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $300.19, for a total value of $2,251,425.00. Following the completion of the transaction, the director directly owned 275,261 shares in the company, valued at $82,630,599.59. This represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 19,744 shares of company stock worth $5,755,174. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in shares of Penumbra during the third quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. bought a new position in shares of Penumbra in the second quarter valued at $30,000. Rothschild Investment LLC bought a new stake in shares of Penumbra during the third quarter worth about $40,000. Parkside Financial Bank & Trust raised its holdings in shares of Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 66 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Penumbra by 53.0% during the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds 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.