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

Penumbra, Inc. (NYSE:PEN) has been given a consensus recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $305.07.

Several equities analysts have recently commented on PEN shares. BTIG Research restated a “buy” rating on shares of Penumbra in a research report on Thursday, April 24th. 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 report on Thursday, April 24th. UBS Group reaffirmed a “buy” rating and issued a $330.00 target price (up from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Truist Financial lifted their target price on Penumbra from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, Wall Street Zen raised Penumbra from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 14th.

Penumbra Price Performance

Shares of Penumbra stock opened at $236.44 on Wednesday. The stock’s 50-day simple moving average is $261.88 and its 200-day simple moving average is $268.31. Penumbra has a 52 week low of $148.00 and a 52 week high of $310.00. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 223.06, a PEG ratio of 2.13 and a beta of 0.47. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.66 by $0.17. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The business had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. During the same period in the previous year, the business earned $0.41 earnings per share. The business’s revenue was up 16.3% on a year-over-year basis. As a group, analysts expect that Penumbra will post 3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, Director Bridget O’rourke sold 100 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total transaction of $28,615.00. Following the sale, the director directly owned 5,423 shares of the company’s stock, valued at $1,551,791.45. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $252.70, for a total value of $151,620.00. Following the sale, the executive vice president directly owned 66,057 shares in the company, valued at $16,692,603.90. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,185 shares of company stock valued at $31,073,762 over the last ninety days. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in shares of Penumbra by 9.2% during the second quarter. Public Employees Retirement System of Ohio now owns 27,860 shares of the company’s stock valued at $7,150,000 after buying an additional 2,348 shares during the last quarter. Sheets Smith Wealth Management grew its stake in shares of Penumbra by 26.4% during the second quarter. Sheets Smith Wealth Management now owns 1,531 shares of the company’s stock valued at $393,000 after buying an additional 320 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Penumbra by 7.3% during the second quarter. GAMMA Investing LLC now owns 761 shares of the company’s stock valued at $195,000 after buying an additional 52 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Penumbra during the second quarter valued at approximately $408,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Penumbra by 408.3% during the second quarter. Farther Finance Advisors LLC now owns 2,262 shares of the company’s stock valued at $580,000 after buying an additional 1,817 shares during the last quarter. 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.