Penumbra, Inc. (NYSE:PEN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have earned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $294.47.

A number of equities analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup lifted their price target on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Morgan Stanley upped their price target on Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Oppenheimer began coverage on Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective on the stock.

Insider Buying and Selling

In other news, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the sale, the director now directly owns 4,533 shares of the company’s stock, valued at approximately $1,199,341.14. The trade was a 7.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the completion of the transaction, the executive vice president now owns 66,539 shares of the company’s stock, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,236 shares of company stock worth $31,222,390 over the last ninety days. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Penumbra

Hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Penumbra during the 4th quarter valued at about $573,000. State Street Corp grew its position in Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares during the last quarter. E. Ohman J or Asset Management AB raised its stake in shares of 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 worth $5,061,000 after acquiring an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Penumbra by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock worth $64,493,000 after acquiring an additional 3,807 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Penumbra by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 655,572 shares of the company’s stock worth $127,417,000 after acquiring an additional 11,257 shares during the last quarter. Institutional investors own 88.88% of the company’s stock.

Penumbra Trading Down 4.0 %

Shares of PEN stock opened at $262.37 on Monday. 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 capitalization of $10.11 billion, a price-to-earnings ratio of 771.66, a PEG ratio of 2.83 and a beta of 0.56. Penumbra has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a 50-day simple moving average of $274.48 and a two-hundred day simple moving average of $245.96.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Research analysts anticipate that Penumbra will post 3.67 EPS for the current fiscal year.

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.