Penumbra (NYSE:PEN) Rating Reiterated by BTIG Research

Penumbra (NYSE:PENGet Rating)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a report issued on Friday, Stock Target Advisor reports. They presently have a $239.00 price target on the stock. BTIG Research’s target price suggests a potential upside of 22.22% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group lowered their price objective on shares of Penumbra from $244.00 to $189.00 and set a “buy” rating for the company in a research report on Friday, August 5th. Royal Bank of Canada initiated coverage on shares of Penumbra in a research note on Monday, July 18th. They issued an “outperform” rating and a $195.00 price target for the company. Truist Financial upped their price target on shares of Penumbra from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Needham & Company LLC raised shares of Penumbra from a “hold” rating to a “buy” rating and set a $244.00 price target for the company in a research note on Friday, September 9th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Penumbra from $250.00 to $163.00 in a research note on Thursday, July 21st. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.90.

Penumbra Stock Down 3.5 %

Shares of PEN opened at $195.55 on Friday. The company has a quick ratio of 2.90, a current ratio of 4.93 and a debt-to-equity ratio of 0.03. The firm has a market cap of $7.41 billion, a PE ratio of -376.05 and a beta of 0.66. The company’s fifty day moving average is $158.19 and its two-hundred day moving average is $164.78. Penumbra has a fifty-two week low of $114.86 and a fifty-two week high of $292.84.

Penumbra (NYSE:PENGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. The firm had revenue of $208.30 million for the quarter, compared to analyst estimates of $206.24 million. Penumbra had a negative net margin of 2.40% and a positive return on equity of 0.97%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. Analysts forecast that Penumbra will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 1,700 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $175.04, for a total transaction of $297,568.00. Following the completion of the transaction, the executive vice president now directly owns 55,496 shares of the company’s stock, valued at approximately $9,714,019.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Johanna Roberts sold 1,700 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $175.04, for a total transaction of $297,568.00. Following the completion of the transaction, the executive vice president now directly owns 55,496 shares of the company’s stock, valued at approximately $9,714,019.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Wilder sold 248 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $123.64, for a total transaction of $30,662.72. Following the sale, the director now owns 462 shares of the company’s stock, valued at approximately $57,121.68. The disclosure for this sale can be found here. Insiders sold a total of 7,951 shares of company stock valued at $1,371,522 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEN. Comerica Bank boosted its stake in Penumbra by 2.0% during the 1st quarter. Comerica Bank now owns 16,072 shares of the company’s stock worth $3,282,000 after acquiring an additional 320 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Penumbra by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 336,325 shares of the company’s stock valued at $74,708,000 after purchasing an additional 13,019 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Penumbra in the fourth quarter valued at approximately $239,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Penumbra by 5.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,458 shares of the company’s stock worth $3,656,000 after buying an additional 795 shares during the last quarter. Finally, US Bancorp DE increased its holdings in Penumbra by 6.3% during the first quarter. US Bancorp DE now owns 18,198 shares of the company’s stock worth $4,044,000 after buying an additional 1,076 shares during the last quarter. Institutional investors and hedge funds own 81.65% of the company’s stock.

Penumbra Company Profile

(Get Rating)

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.

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Analyst Recommendations for Penumbra (NYSE:PEN)

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