Penumbra (NYSE:PEN) Given New $313.00 Price Target at Royal Bank of Canada

Penumbra (NYSE:PEN) had its price target upped by Royal Bank of Canada from $285.00 to $313.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

PEN has been the subject of a number of other research reports. Wells Fargo & Company increased their price target on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley raised their price target on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup raised their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. BTIG Research raised their target price on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Robert W. Baird raised their price target on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a report on Wednesday. Three equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Stock Down 3.5 %

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

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 9.74% and a net margin of 1.17%. Equities research analysts forecast that Penumbra will post 3.86 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 837,582 shares in the company, valued at approximately $203,498,922.72. The trade was a 1.76 % 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 worth $4,426,439 over the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cache Advisors LLC bought a new stake in Penumbra in the fourth quarter worth about $534,000. Public Employees Retirement System of Ohio raised its holdings in shares of Penumbra by 6.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 22,399 shares of the company’s stock worth $5,319,000 after purchasing an additional 1,316 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Penumbra by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 111,500 shares of the company’s stock worth $26,479,000 after purchasing an additional 13,929 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Penumbra by 396.0% in the 4th quarter. Woodline Partners LP now owns 25,323 shares of the company’s stock worth $6,014,000 after purchasing an additional 20,218 shares in the last quarter. Finally, Vident Advisory LLC bought a new position in shares of Penumbra in the fourth quarter valued at $212,000. Institutional investors 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.