Brokerages Set Penumbra, Inc. (NYSE:PEN) Price Target at $261.36

Penumbra, Inc. (NYSE:PEN) has been assigned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $261.36.

A number of research firms recently commented on PEN. Piper Sandler increased their target price on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. UBS Group assumed coverage on Penumbra in a research report on Tuesday, January 21st. They set a “buy” rating and a $305.00 target price on the stock. Robert W. Baird upped their target price on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. BTIG Research increased their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Canaccord Genuity Group increased their price target on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a research note on Monday, December 9th.

Penumbra Trading Up 0.2 %

Shares of PEN opened at $274.25 on Wednesday. The firm has a market capitalization of $10.53 billion, a P/E ratio of 318.89, a P/E/G ratio of 2.02 and a beta of 0.52. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $247.95 and a 200 day moving average price of $215.97. Penumbra has a 12-month low of $148.00 and a 12-month high of $277.89.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 EPS 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 company had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that Penumbra will post 2.81 EPS for the current year.

Insider Activity at Penumbra

In other news, CAO Lambert Shiu sold 1,798 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the sale, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. This represents a 8.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the sale, the chief executive officer now owns 852,582 shares of the company’s stock, valued at $202,300,656.96. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,819 shares of company stock worth $8,129,483. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Penumbra

A number of large investors have recently added to or reduced their stakes in PEN. True Wealth Design LLC acquired a new stake in shares of Penumbra in the 3rd quarter valued at $26,000. GAMMA Investing LLC raised its position in Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. UMB Bank n.a. increased its position in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the period. Park Place Capital Corp lifted its holdings in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after buying an additional 339 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the period. Institutional investors and hedge funds 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.