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

Shares of Penumbra, Inc. (NYSE:PEN) have received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $340.40.

A number of research firms recently commented on PEN. Truist Financial increased their target price on shares of Penumbra from $312.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Evercore ISI reiterated an “outperform” rating and set a $340.00 price objective on shares of Penumbra in a report on Monday. Wall Street Zen raised Penumbra from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Robert W. Baird set a $345.00 target price on Penumbra in a research report on Tuesday, December 16th. Finally, Bank of America increased their price target on Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a research note on Monday.

Insider Buying and Selling

In related news, Director Thomas Wilder sold 186 shares of Penumbra stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $310.72, for a total value of $57,793.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arani Bose sold 15,000 shares of Penumbra stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $308.82, for a total value of $4,632,300.00. Following the completion of the sale, the director directly owned 258,462 shares in the company, valued at $79,818,234.84. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 33,958 shares of company stock worth $10,201,976. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently modified their holdings of PEN. Machina Capital S.A.S. acquired a new stake in shares of Penumbra in the 2nd quarter valued at $369,000. First Trust Advisors LP grew its stake in shares of Penumbra by 4.0% during the second quarter. First Trust Advisors LP now owns 100,723 shares of the company’s stock worth $25,849,000 after purchasing an additional 3,906 shares in the last quarter. Fortis Capital Advisors LLC purchased a new position in Penumbra in the first quarter valued at $732,000. Belpointe Asset Management LLC acquired a new stake in Penumbra in the first quarter valued at $732,000. Finally, Russell Investments Group Ltd. lifted its holdings in Penumbra by 22.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 26,604 shares of the company’s stock worth $6,827,000 after buying an additional 4,960 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Price Performance

Shares of PEN stock opened at $315.96 on Wednesday. Penumbra has a 1-year low of $221.26 and a 1-year high of $321.38. The stock’s 50-day moving average is $289.92 and its 200 day moving average is $265.84. The company has a market cap of $12.37 billion, a P/E ratio of 75.59, a PEG ratio of 1.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18.

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

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.