Penumbra (NYSE:PEN) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Penumbra (NYSE:PEN) from a hold rating to a buy rating in a research note published on Thursday.

Several other research firms have also recently issued reports on PEN. UBS Group boosted their target price on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday. Canaccord Genuity Group raised their target price on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird boosted their target price on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Oppenheimer initiated coverage on shares of Penumbra in a report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Trading Down 0.3 %

NYSE:PEN opened at $302.82 on Thursday. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $257.15 and its 200-day simple moving average is $226.51. Penumbra has a 12-month low of $148.00 and a 12-month high of $310.00. The firm has a market cap of $11.66 billion, a P/E ratio of 890.64, a PEG ratio of 2.23 and a beta of 0.53.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Equities analysts anticipate that Penumbra will post 3.86 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the sale, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $242.56, for a total value of $436,122.88. Following the transaction, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. This trade represents a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,219 shares of company stock valued at $4,426,439 in the last ninety days. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its position in shares of Penumbra by 6.6% in the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock worth $150,000 after acquiring an additional 39 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in Penumbra by 3.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock worth $263,000 after purchasing an additional 41 shares during the period. Advisors Asset Management Inc. increased its holdings in Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares in the last quarter. Baker Avenue Asset Management LP raised its position in Penumbra by 1.6% in the fourth quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company’s stock valued at $791,000 after purchasing an additional 53 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Penumbra by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.