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

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

PEN has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on Penumbra from $305.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. UBS Group reiterated a “buy” rating and issued a $330.00 target price (up previously from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Truist Financial increased their target price on Penumbra from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Bank of America started coverage on shares of Penumbra in a research note on Friday, March 14th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Royal Bank Of Canada raised their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th.

Insider Activity

In other Penumbra news, Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction dated 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 transaction, the director now owns 314,819 shares in the company, valued at $89,336,187.63. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Wilder sold 360 shares of Penumbra stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the transaction, the director now directly owns 4,533 shares in the company, valued at approximately $1,199,341.14. The trade was a 7.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,205 shares of company stock worth $35,823,774. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Penumbra

Several institutional investors and hedge funds have recently bought and sold shares of PEN. Quadrant Capital Group LLC grew its stake in Penumbra by 6.6% during the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock worth $150,000 after buying an additional 39 shares during the last quarter. Baker Avenue Asset Management LP grew its stake in Penumbra by 1.6% during the 4th quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company’s stock worth $791,000 after buying an additional 53 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Penumbra by 16.4% during the first quarter. Fifth Third Bancorp now owns 404 shares of the company’s stock worth $108,000 after acquiring an additional 57 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Penumbra by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,183 shares of the company’s stock worth $281,000 after acquiring an additional 61 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Penumbra by 3.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,695 shares of the company’s stock worth $403,000 after acquiring an additional 61 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Performance

NYSE:PEN opened at $256.75 on Friday. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The firm has a market capitalization of $9.94 billion, a PE ratio of 242.22, a PEG ratio of 2.29 and a beta of 0.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.68 and a current ratio of 6.30. The stock’s fifty day moving average is $274.48 and its 200 day moving average is $267.56.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.17. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, sell-side analysts anticipate that Penumbra will post 3.67 earnings per share for the current 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.