Recent Analysts’ Ratings Changes for Penumbra (PEN)

Penumbra (NYSE: PEN) has recently received a number of price target changes and ratings updates:

• 5/18/2023 – Penumbra is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 5/18/2023 – Penumbra had its price target raised by analysts at Truist Financial Co. from $320.00 to $350.00.
• 5/3/2023 – Penumbra had its “maintains” rating reaffirmed by analysts at 58.com Inc..
• 5/3/2023 – Penumbra had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $297.00 to $325.00.
• 5/3/2023 – Penumbra had its price target raised by analysts at Wells Fargo & Company from $291.00 to $320.00.
• 5/3/2023 – Penumbra had its price target raised by analysts at Royal Bank of Canada from $289.00 to $303.00.
• 5/3/2023 – Penumbra had its price target raised by analysts at BTIG Research from $301.00 to $312.00.
• 5/3/2023 – Penumbra had its price target raised by analysts at Piper Sandler from $285.00 to $300.00.
• 4/17/2023 – Penumbra had its price target raised by analysts at BTIG Research from $279.00 to $301.00.
• 4/3/2023 – Penumbra had its price target raised by analysts at Citigroup Inc. from $303.00 to $325.00. They now have a “buy” rating on the stock.
• 3/29/2023 – Penumbra was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating.

Penumbra Stock Up 0.8 %

PEN opened at $317.60 on Monday. The company has a fifty day moving average price of $285.47 and a 200-day moving average price of $249.26. The firm has a market capitalization of $12.15 billion, a P/E ratio of 1,985.12 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.37 and a quick ratio of 3.02. Penumbra, Inc. has a one year low of $114.86 and a one year high of $324.38.

Penumbra (NYSE:PEN – Get Rating) last announced its earnings results on Tuesday, May 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.12. Penumbra had a net margin of 0.73% and a return on equity of 1.58%. The company had revenue of $241.40 million during the quarter, compared to analyst estimates of $229.70 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts expect that Penumbra, Inc. will post 1.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $319.67, for a total value of $479,505.00. Following the sale, the executive vice president now directly owns 68,925 shares of the company’s stock, valued at $22,033,254.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $319.67, for a total value of $479,505.00. Following the completion of the sale, the executive vice president now directly owns 68,925 shares in the company, valued at $22,033,254.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Elsesser sold 9,666 shares of Penumbra stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $318.52, for a total transaction of $3,078,814.32. The disclosure for this sale can be found here. Insiders have sold 24,826 shares of company stock valued at $7,332,139 over the last ninety days. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Penumbra

A number of hedge funds have recently added to or reduced their stakes in PEN. Raymond James & Associates raised its holdings in Penumbra by 8.1% in the 1st quarter. Raymond James & Associates now owns 8,565 shares of the company’s stock worth $1,903,000 after acquiring an additional 641 shares during the last quarter. Citigroup Inc. grew its position in shares of Penumbra by 44.5% during the 1st quarter. Citigroup Inc. now owns 4,979 shares of the company’s stock valued at $1,106,000 after acquiring an additional 1,534 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Penumbra by 15.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,211 shares of the company’s stock valued at $269,000 after acquiring an additional 164 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Penumbra by 8.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 19,045 shares of the company’s stock valued at $4,348,000 after buying an additional 1,417 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Penumbra by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 90,610 shares of the company’s stock valued at $20,123,000 after buying an additional 2,717 shares in the last quarter. 82.42% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers neurovascular thrombectomy and embolization and access technologies, neurosurgical tools, Penumbra LANTERN Delivery Microcatheter, and Penumbra Occlusion Device (POD) system. The company was founded by Arani Bose and Adam Elsesser on June 21, 2004, and is headquartered in Alameda, CA.