Penumbra, Inc. (NYSE:PEN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $294.47.

A number of research firms have recently weighed in on PEN. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Morgan Stanley boosted their price target on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Piper Sandler reissued an “overweight” rating and issued a $330.00 price target (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Finally, Oppenheimer started coverage on Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective for the company.

Insider Buying and Selling at Penumbra

In other news, CEO Adam Elsesser sold 61,600 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the completion of the sale, the chief executive officer now owns 16,376 shares of the company’s stock, valued at $4,644,069.84. This represents a 79.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,243 shares of the company’s stock, valued at $4,359,498. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,918 shares of company stock valued at $22,054,293. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new position in shares of Penumbra in the fourth quarter worth about $573,000. State Street Corp lifted its stake in shares of Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after acquiring an additional 3,863 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after acquiring an additional 358,932 shares in the last quarter. E. Ohman J or Asset Management AB lifted its stake in shares of Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock worth $5,061,000 after acquiring an additional 2,000 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Penumbra in the third quarter worth about $2,330,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Stock Performance

Shares of PEN stock opened at $276.24 on Thursday. The stock has a fifty day moving average price of $270.69 and a 200 day moving average price of $238.41. The stock has a market cap of $10.64 billion, a PE ratio of 812.46, a P/E/G ratio of 2.83 and a beta of 0.51. Penumbra has a 1 year low of $148.00 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Sell-side analysts forecast that Penumbra will post 3.67 earnings per share for the current fiscal year.

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.