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

Shares of Penumbra, Inc. (NYSE:PEN) have been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $302.40.

PEN has been the topic of several recent research reports. Wall Street Zen cut Penumbra from a “strong-buy” rating to a “buy” rating in a report on Saturday. Royal Bank of Canada boosted their target price on Penumbra from $315.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Bank of America initiated coverage on Penumbra in a report on Friday, March 14th. They set a “buy” rating and a $320.00 target price on the stock. Robert W. Baird boosted their target price on Penumbra from $316.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, BTIG Research reiterated a “buy” rating on shares of Penumbra in a report on Thursday, April 24th.

Penumbra Trading Up 0.7%

PEN opened at $268.72 on Tuesday. Penumbra has a 52 week low of $148.00 and a 52 week high of $310.00. The stock’s fifty day moving average is $279.45 and its two-hundred day moving average is $265.62. The company has a market capitalization of $10.41 billion, a P/E ratio of 790.35, a PEG ratio of 2.83 and a beta of 0.53. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating 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 business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same period last year, the business posted $0.41 EPS. The business’s revenue was up 16.3% compared to the same quarter last year. Analysts forecast that Penumbra will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 61,600 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the sale, the chief executive officer now owns 16,376 shares of the company’s stock, valued at approximately $4,644,069.84. This represents a 79.00% 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 Arani Bose sold 12,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total value of $3,405,240.00. Following the sale, the director now directly owns 314,819 shares in the company, valued at $89,336,187.63. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,696 shares of company stock valued at $50,207,745. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Penumbra

Large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. purchased a new position in Penumbra in the fourth quarter valued at $573,000. E. Ohman J or Asset Management AB increased its holdings in Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock valued at $5,061,000 after buying an additional 2,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock valued at $64,493,000 after buying an additional 3,807 shares during the last quarter. Washington Capital Management Inc. purchased a new position in Penumbra in the fourth quarter valued at $226,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Penumbra by 39.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock valued at $71,831,000 after buying an additional 85,284 shares during the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

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.