Penumbra (NYSE:PEN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Penumbra (NYSE:PEN) from a hold rating to a buy rating in a report released on Saturday morning.

Several other equities research analysts have also recently weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $286.00 price objective on shares of Penumbra in a research report on Thursday, November 6th. Needham & Company LLC lifted their price target on Penumbra from $326.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Canaccord Genuity Group boosted their price objective on shares of Penumbra from $355.00 to $359.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Monday, December 15th. Finally, Truist Financial boosted their price objective on Penumbra from $312.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Penumbra currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.47.

Penumbra Price Performance

Shares of PEN stock opened at $320.31 on Friday. The firm’s 50 day moving average is $275.82 and its 200-day moving average is $261.35. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 76.63, a PEG ratio of 2.61 and a beta of 0.66. Penumbra has a 1 year low of $221.26 and a 1 year high of $321.38. 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 announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.07. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The business had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. During the same period in the prior year, the business posted $0.85 earnings per share. Penumbra’s revenue was up 17.8% compared to the same quarter last year. Sell-side analysts forecast that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Arani Bose sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $308.82, for a total value of $4,632,300.00. Following the transaction, the director owned 258,462 shares in the company, valued at approximately $79,818,234.84. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 100 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $292.98, for a total value of $29,298.00. Following the transaction, the director directly owned 8,416 shares in the company, valued at $2,465,719.68. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,744 shares of company stock valued at $10,387,474 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in shares of Penumbra by 3.2% during the first quarter. Invesco Ltd. now owns 51,116 shares of the company’s stock valued at $13,669,000 after purchasing an additional 1,592 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Penumbra by 15.1% in the first quarter. HighTower Advisors LLC now owns 6,882 shares of the company’s stock worth $1,840,000 after acquiring an additional 902 shares during the period. Raymond James Financial Inc. increased its holdings in Penumbra by 38.5% in the 1st quarter. Raymond James Financial Inc. now owns 34,850 shares of the company’s stock valued at $9,319,000 after acquiring an additional 9,687 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Penumbra by 13.8% during the 1st quarter. Hsbc Holdings PLC now owns 1,401 shares of the company’s stock valued at $375,000 after acquiring an additional 170 shares during the last quarter. Finally, Compound Planning Inc. purchased a new position in Penumbra in the first quarter worth about $221,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.