Penumbra (NYSE:PEN) Given New $180.00 Price Target at Robert W. Baird

Penumbra (NYSE:PEN) had its price target decreased by Robert W. Baird from $231.00 to $180.00 in a research note released on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other analysts have also issued reports on PEN. Canaccord Genuity Group dropped their target price on shares of Penumbra from $272.00 to $176.00 and set a buy rating on the stock in a research report on Wednesday. Needham & Company LLC reaffirmed a hold rating on shares of Penumbra in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Penumbra from $235.00 to $210.00 and set an equal weight rating on the stock in a research note on Monday, July 15th. Citigroup downgraded shares of Penumbra from a buy rating to a neutral rating and boosted their price target for the company from $165.00 to $178.00 in a research note on Wednesday. Finally, Royal Bank of Canada reduced their price target on shares of Penumbra from $289.00 to $205.00 and set an outperform rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $193.60.

Penumbra Stock Down 3.5 %

PEN stock opened at $167.09 on Wednesday. The firm has a market cap of $6.48 billion, a PE ratio of 70.50, a P/E/G ratio of 1.74 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12. The firm’s fifty day moving average is $184.96 and its 200 day moving average is $215.49. Penumbra has a one year low of $148.00 and a one year high of $310.51.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. The company had revenue of $299.40 million for the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. On average, research analysts forecast that Penumbra will post 2.88 EPS for the current year.

Insiders Place Their Bets

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the completion of the transaction, the chief executive officer now owns 927,582 shares in the company, valued at approximately $187,853,906.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $179.20, for a total transaction of $107,520.00. Following the completion of the sale, the executive vice president now owns 62,288 shares in the company, valued at approximately $11,162,009.60. The sale was disclosed in a legal 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 Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the sale, the chief executive officer now owns 927,582 shares of the company’s stock, valued at approximately $187,853,906.64. The disclosure for this sale can be found here. Insiders sold 31,970 shares of company stock worth $6,428,404 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. raised its position in Penumbra by 171.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. Mather Group LLC. purchased a new stake in Penumbra in the 1st quarter valued at $29,000. Signaturefd LLC raised its position in Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after purchasing an additional 46 shares during the last quarter. WASHINGTON TRUST Co purchased a new stake in Penumbra in the 2nd quarter valued at $54,000. Finally, Quest Partners LLC purchased a new stake in Penumbra in the 4th quarter valued at $71,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

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.