Penumbra (NYSE:PEN) Given New $285.00 Price Target at Evercore ISI

Penumbra (NYSE:PEN) had its price objective cut by Evercore ISI from $300.00 to $285.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

PEN has been the topic of a number of other reports. Truist Financial set a $310.00 price target on Penumbra and gave the company a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen downgraded Penumbra from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Canaccord Genuity Group set a $350.00 price target on Penumbra and gave the company a “buy” rating in a report on Wednesday, July 30th. William Blair raised Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Finally, UBS Group set a $335.00 price target on Penumbra and gave the company a “buy” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $301.93.

Penumbra Trading Down 2.6%

Penumbra stock opened at $249.05 on Tuesday. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $258.59 and its two-hundred day simple moving average is $262.45. Penumbra has a 12 month low of $190.51 and a 12 month high of $310.00. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of 66.24, a price-to-earnings-growth ratio of 2.30 and a beta of 0.41.

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

Insider Buying and Selling

In other Penumbra news, CEO Adam Elsesser sold 16,150 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $233.16, for a total value of $3,765,534.00. Following the transaction, the chief executive officer owned 146,258 shares of the company’s stock, valued at approximately $34,101,515.28. This represents a 9.94% 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, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $270.58, for a total value of $162,348.00. Following the completion of the transaction, the executive vice president directly owned 64,857 shares in the company, valued at approximately $17,549,007.06. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,610 shares of company stock valued at $20,088,148 in the last 90 days. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Oak Thistle LLC raised its stake in shares of Penumbra by 12.8% in the third quarter. Oak Thistle LLC now owns 2,366 shares of the company’s stock worth $599,000 after buying an additional 268 shares during the period. Corient Private Wealth LLC raised its stake in shares of Penumbra by 4.1% in the second quarter. Corient Private Wealth LLC now owns 2,335 shares of the company’s stock worth $599,000 after buying an additional 92 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Penumbra by 58.7% in the second quarter. Texas Permanent School Fund Corp now owns 25,646 shares of the company’s stock worth $6,582,000 after buying an additional 9,491 shares during the period. Osaic Holdings Inc. raised its stake in shares of Penumbra by 85.7% in the second quarter. Osaic Holdings Inc. now owns 3,287 shares of the company’s stock worth $843,000 after buying an additional 1,517 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Penumbra in the second quarter worth about $30,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Company Profile

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.