Penumbra (NYSE:PEN) Price Target Raised to $370.00 at Truist Financial

Penumbra (NYSE:PEN) had its price objective lifted by Truist Financial from $312.00 to $370.00 in a research report sent to investors on Thursday, MarketBeat reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Citigroup raised shares of Penumbra from a “neutral” rating to a “buy” rating and upped their price target for the stock from $285.00 to $350.00 in a research report on Thursday, December 11th. Wells Fargo & Company started coverage on shares of Penumbra in a research note on Tuesday, November 18th. They issued an “underweight” rating for the company. Robert W. Baird set a $345.00 target price on Penumbra in a report on Tuesday. BTIG Research reiterated a “buy” rating and issued a $320.00 price target on shares of Penumbra in a report on Monday, October 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $355.00 price target on shares of Penumbra in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $333.47.

Penumbra Price Performance

PEN opened at $314.99 on Thursday. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 75.36, a PEG ratio of 2.55 and a beta of 0.66. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02. Penumbra has a 12-month low of $221.26 and a 12-month high of $320.00. The business’s fifty day simple moving average is $273.37 and its 200-day simple moving average is $260.43.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The firm had revenue of $354.69 million during the quarter, compared to the consensus estimate of $340.77 million. During the same period in the previous year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities research analysts anticipate that Penumbra will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other news, Director Harpreet Grewal sold 186 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $248.61, for a total transaction of $46,241.46. Following the completion of the sale, the director owned 8,702 shares in the company, valued at approximately $2,163,404.22. This represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 1,800 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $300.06, for a total value of $540,108.00. Following the completion of the sale, the executive vice president directly owned 64,736 shares of the company’s stock, valued at $19,424,684.16. The trade was a 2.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 34,744 shares of company stock valued at $10,387,474. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Large investors have recently modified their holdings of the business. Mather Group LLC. purchased a new position in shares of Penumbra in the 3rd quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. acquired a new position in Penumbra during the 2nd quarter valued at approximately $30,000. Rothschild Investment LLC purchased a new position in shares of Penumbra in the third quarter worth $40,000. Parkside Financial Bank & Trust lifted its stake in shares of Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after buying an additional 66 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Penumbra by 53.0% during the third quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after buying an additional 62 shares during the period. Hedge funds and other 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.