Penumbra (NYSE:PEN) Stock Rating Upgraded by Wall Street Zen

Penumbra (NYSE:PEN) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued reports about the company. UBS Group set a $335.00 price target on Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 30th. Truist Financial set a $310.00 price target on Penumbra and gave the company a “buy” rating in a research note on Wednesday, July 30th. Citigroup dropped their price target on Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. Robert W. Baird increased their price target on Penumbra from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Finally, William Blair raised Penumbra to a “strong-buy” rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.47.

Penumbra Stock Performance

NYSE PEN opened at $272.96 on Friday. The business has a 50-day moving average price of $247.32 and a 200-day moving average price of $265.44. Penumbra has a twelve month low of $184.80 and a twelve month high of $310.00. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 72.60, a price-to-earnings-growth ratio of 2.44 and a beta of 0.40. The company has a quick ratio of 4.04, a current ratio of 6.75 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The company had revenue of $339.46 million during the quarter, compared to analyst estimates of $327.37 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Transactions at Penumbra

In other news, Director Arani Bose sold 12,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total value of $3,007,800.00. Following the sale, the director directly owned 558 shares in the company, valued at approximately $139,862.70. This represents a 95.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total value of $500,000.00. Following the completion of the sale, the chief financial officer owned 12,943 shares in the company, valued at approximately $3,235,750. The trade was a 13.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,087 shares of company stock valued at $27,649,681. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Several hedge funds and other institutional investors have recently modified their holdings of PEN. The Manufacturers Life Insurance Company raised its holdings in shares of Penumbra by 1.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 104,193 shares of the company’s stock worth $24,744,000 after buying an additional 1,486 shares during the period. Northern Trust Corp increased its holdings in Penumbra by 20.8% during the 4th quarter. Northern Trust Corp now owns 318,230 shares of the company’s stock worth $75,573,000 after purchasing an additional 54,890 shares during the period. AQR Capital Management LLC increased its holdings in Penumbra by 19.6% during the 4th quarter. AQR Capital Management LLC now owns 159,435 shares of the company’s stock worth $37,863,000 after purchasing an additional 26,144 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in Penumbra by 41.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,760 shares of the company’s stock worth $418,000 after purchasing an additional 519 shares during the period. Finally, Algert Global LLC increased its holdings in Penumbra by 29.9% during the 4th quarter. Algert Global LLC now owns 18,974 shares of the company’s stock worth $4,506,000 after purchasing an additional 4,362 shares during the period. 88.88% of the stock is currently owned by hedge funds and other 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.