Robert W. Baird Increases Penumbra (NYSE:PEN) Price Target to $328.00

Penumbra (NYSE:PEN) had its price objective hoisted by equities research analysts at Robert W. Baird from $305.00 to $328.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 8.32% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Citigroup lifted their price target on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $190.00 to $275.00 in a research report on Wednesday, December 11th. UBS Group began coverage on shares of Penumbra in a research report on Tuesday, January 21st. They set a “buy” rating and a $305.00 price target for the company. Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target for the company. Finally, Piper Sandler lifted their price target on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra currently has a consensus rating of “Moderate Buy” and an average target price of $292.64.

Penumbra Price Performance

Shares of Penumbra stock opened at $302.82 on Wednesday. The firm has a market cap of $11.62 billion, a PE ratio of 890.64, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53. Penumbra has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $257.15 and its two-hundred day simple moving average is $226.51.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.73%. As a group, equities analysts expect that Penumbra will post 3.86 EPS for the current year.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares in the company, valued at $15,511,423.56. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the sale, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,219 shares of company stock valued at $4,426,439 in the last 90 days. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

A number of large investors have recently modified their holdings of PEN. Creative Planning boosted its position in shares of Penumbra by 4.7% during the 3rd quarter. Creative Planning now owns 1,574 shares of the company’s stock valued at $306,000 after acquiring an additional 71 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Penumbra by 808.9% during the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company’s stock valued at $92,000 after acquiring an additional 453 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Penumbra by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 214,113 shares of the company’s stock valued at $41,604,000 after acquiring an additional 3,973 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in shares of Penumbra during the 3rd quarter valued at about $244,000. Finally, E. Ohman J or Asset Management AB boosted its position in shares of Penumbra by 26.1% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 19,312 shares of the company’s stock valued at $3,753,000 after acquiring an additional 4,000 shares during the last quarter. 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.