Penumbra, Inc. (NYSE:PEN) Given Consensus Rating of “Moderate Buy” by Analysts

Penumbra, Inc. (NYSE:PEN) has received an average rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $302.40.

PEN has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on Penumbra from $316.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. BTIG Research reissued a “buy” rating on shares of Penumbra in a research note on Thursday, April 24th. UBS Group restated a “buy” rating and set a $330.00 price target (up from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Truist Financial increased their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th.

Penumbra Stock Down 0.4 %

Shares of PEN opened at $291.60 on Friday. The stock’s 50-day moving average price is $276.82 and its two-hundred day moving average price is $256.96. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a market capitalization of $11.29 billion, a PE ratio of 857.65, a PEG ratio of 2.83 and a beta of 0.56. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. On average, analysts anticipate that Penumbra will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In related news, CEO Adam Elsesser sold 61,600 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now directly owns 16,376 shares in the company, valued at approximately $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lambert Shiu sold 501 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total transaction of $141,722.88. Following the completion of the sale, the chief accounting officer now owns 32,969 shares of the company’s stock, valued at approximately $9,326,270.72. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,446 shares of company stock worth $39,543,953. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Penumbra

Several institutional investors have recently modified their holdings of PEN. Norges Bank purchased a new position in Penumbra in the fourth quarter worth $54,396,000. T. Rowe Price Investment Management Inc. grew its position in Penumbra by 47.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock valued at $167,913,000 after buying an additional 227,506 shares during the period. GAMMA Investing LLC increased its holdings in Penumbra by 42,409.9% during the first quarter. GAMMA Investing LLC now owns 189,594 shares of the company’s stock worth $50,699,000 after buying an additional 189,148 shares during the last quarter. Baillie Gifford & Co. raised its position in Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after acquiring an additional 138,387 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Penumbra in the fourth quarter valued at about $23,866,000. 88.88% of the stock is owned by institutional investors.

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.