Penumbra (NYSE:PEN) Trading 7.1% Higher – Still a Buy?

Penumbra, Inc. (NYSE:PEN) shares rose 7.1% during trading on Tuesday . The company traded as high as $257.36 and last traded at $254.07. Approximately 128,567 shares traded hands during trading, a decline of 65% from the average daily volume of 364,074 shares. The stock had previously closed at $237.28.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PEN shares. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Stifel Nicolaus assumed coverage on Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price on the stock. Oppenheimer began coverage on Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target on the stock. Finally, Canaccord Genuity Group increased their price target on shares of Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $258.00.

Penumbra Stock Up 9.3 %

The stock has a market cap of $9.95 billion, a PE ratio of 301.52, a PEG ratio of 2.47 and a beta of 0.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The company has a 50 day moving average price of $239.39 and a two-hundred day moving average price of $207.90.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The business had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same quarter in the previous year, the firm earned $0.67 EPS. Penumbra’s revenue was up 11.1% on a year-over-year basis. Analysts expect that Penumbra, Inc. will post 2.81 EPS for the current year.

Insider Transactions at Penumbra

In other news, CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction on Friday, November 29th. The shares were sold at an average price of $242.56, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction 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 sale, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,819 shares of company stock worth $11,197,883 in the last ninety days. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Penumbra

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its stake in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after buying an additional 43 shares during the period. ProShare Advisors LLC raised its stake in Penumbra by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after acquiring an additional 62 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in Penumbra by 3.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company’s stock valued at $336,000 after purchasing an additional 65 shares in the last quarter. Creative Planning boosted its position in shares of Penumbra by 4.7% in the third quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after purchasing an additional 71 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other 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.