Penumbra (NYSE:PEN) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Penumbra (NYSE:PEN) in a research note issued to investors on Wednesday morning,Benzinga reports.

A number of other brokerages have also recently issued reports on PEN. Robert W. Baird lifted their price target on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday. BTIG Research raised their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Oppenheimer assumed coverage on shares of Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective for the company. Canaccord Genuity Group raised their price objective on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Piper Sandler raised their price objective on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and an average target price of $292.64.

Penumbra Trading Down 3.5 %

Shares of NYSE PEN opened at $292.52 on Wednesday. Penumbra has a 1 year low of $148.00 and a 1 year high of $310.00. The stock has a market cap of $11.27 billion, a P/E ratio of 860.35, a price-to-earnings-growth ratio of 2.23 and a beta of 0.53. The firm has a 50-day moving average of $258.16 and a 200 day moving average of $227.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. As a group, sell-side analysts expect that Penumbra will post 3.86 EPS for the current fiscal year.

Insider Transactions at Penumbra

In related news, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares in the company, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,219 shares of company stock worth $4,426,439 over the last three months. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Penumbra

Several large investors have recently added to or reduced their stakes in the business. Cache Advisors LLC bought a new stake in Penumbra during the fourth quarter valued at approximately $534,000. Public Employees Retirement System of Ohio grew its position in Penumbra by 6.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 22,399 shares of the company’s stock valued at $5,319,000 after buying an additional 1,316 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Penumbra by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 111,500 shares of the company’s stock valued at $26,479,000 after buying an additional 13,929 shares during the period. Woodline Partners LP grew its position in Penumbra by 396.0% during the fourth quarter. Woodline Partners LP now owns 25,323 shares of the company’s stock valued at $6,014,000 after buying an additional 20,218 shares during the period. Finally, Vident Advisory LLC bought a new stake in Penumbra during the fourth quarter valued at approximately $212,000. 88.88% of the stock is currently owned by institutional investors.

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.