Penumbra, Inc. (NYSE:PEN) Given Consensus Rating of “Moderate Buy” by Brokerages

Penumbra, Inc. (NYSE:PEN) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $193.60.

Several analysts recently issued reports on PEN shares. Canaccord Genuity Group cut their price target on Penumbra from $272.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company cut Penumbra from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $289.00 to $150.00 in a research report on Wednesday, July 31st. Piper Sandler lowered their target price on Penumbra from $260.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Robert W. Baird lowered their target price on Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Morgan Stanley lowered their target price on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th.

Penumbra Trading Down 3.4 %

Shares of NYSE PEN opened at $171.44 on Wednesday. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 72.34, a price-to-earnings-growth ratio of 1.85 and a beta of 0.55. Penumbra has a 12-month low of $148.00 and a 12-month high of $302.00. The company has a current ratio of 6.25, a quick ratio of 3.51 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $183.89 and its 200 day simple moving average is $213.42.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.08. The business had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. Equities research analysts expect that Penumbra will post 2.74 EPS for the current year.

Insider Activity

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, May 13th. The stock was sold at an average price of $207.41, for a total transaction of $124,446.00. Following the transaction, the executive vice president now directly owns 63,488 shares in the company, valued at approximately $13,168,046.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the completion of the sale, the chief executive officer now directly owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $207.41, for a total value of $124,446.00. Following the sale, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at $13,168,046.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,970 shares of company stock worth $6,428,404. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Penumbra

Several large investors have recently modified their holdings of PEN. Quest Partners LLC boosted its position in shares of Penumbra by 272.8% in the second quarter. Quest Partners LLC now owns 3,027 shares of the company’s stock worth $545,000 after buying an additional 2,215 shares during the period. Norden Group LLC boosted its position in shares of Penumbra by 148.9% in the second quarter. Norden Group LLC now owns 3,579 shares of the company’s stock worth $644,000 after buying an additional 2,141 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Penumbra in the second quarter worth $289,000. Arcadia Investment Management Corp MI boosted its position in shares of Penumbra by 7.9% in the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock worth $181,000 after buying an additional 74 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Penumbra by 2.1% in the second quarter. Arizona State Retirement System now owns 10,293 shares of the company’s stock worth $1,852,000 after buying an additional 216 shares during the period. 88.88% of the stock is owned by institutional investors.

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.