Penumbra (NYSE:PEN) Price Target Raised to $305.00

Penumbra (NYSE:PEN) had its price objective increased by equities research analysts at Wells Fargo & Company from $275.00 to $305.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 12.55% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Canaccord Genuity Group increased their price objective on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler upped their target price on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. BTIG Research upped their target price on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group initiated coverage on shares of Penumbra in a report on Tuesday, January 21st. They issued a “buy” rating and a $305.00 target price for the company. Finally, Morgan Stanley upped their target price on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $278.50.

Penumbra Trading Up 0.9 %

Shares of NYSE:PEN opened at $270.99 on Wednesday. Penumbra has a 52 week low of $148.00 and a 52 week high of $277.89. The company’s 50 day moving average is $255.58 and its two-hundred day moving average is $225.29. 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 company has a market cap of $10.40 billion, a PE ratio of 315.10, a P/E/G ratio of 1.97 and a beta of 0.53.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Equities analysts predict that Penumbra will post 2.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the sale, the executive vice president now owns 63,444 shares in the company, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the sale, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,219 shares of company stock worth $4,426,439 in the last 90 days. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its holdings in shares of Penumbra by 128.1% in the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after purchasing an additional 375,684 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after purchasing an additional 358,932 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after purchasing an additional 264,122 shares in the last quarter. Norges Bank purchased a new position in shares of Penumbra in the 4th quarter valued at about $54,396,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Penumbra by 47.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock valued at $167,913,000 after purchasing an additional 227,506 shares in the last quarter. Institutional investors and hedge funds 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.