Penumbra (NYSE:PEN) Price Target Raised to $313.00

Penumbra (NYSE:PEN) had its price objective lifted by analysts at Royal Bank of Canada from $285.00 to $313.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 3.25% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. UBS Group increased their price objective on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer began coverage on Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective on the stock. Morgan Stanley raised their target price on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Robert W. Baird upped their price target on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Wednesday. Four 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $287.29.

Penumbra Stock Performance

Shares of PEN traded up $32.01 during trading hours on Wednesday, reaching $303.15. 622,478 shares of the company traded hands, compared to its average volume of 480,878. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The stock’s fifty day moving average is $256.15 and its 200 day moving average is $225.97. Penumbra has a 1-year low of $148.00 and a 1-year high of $304.74. The stock has a market cap of $11.63 billion, a P/E ratio of 351.47, a price-to-earnings-growth 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, topping analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. Equities research analysts anticipate that Penumbra will post 2.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the sale, the executive vice president now owns 63,444 shares of the company’s stock, valued at approximately $15,511,423.56. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $242.56, for a total value of $436,122.88. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,219 shares of company stock valued at $4,426,439. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its position in Penumbra by 6.6% during the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock worth $150,000 after acquiring an additional 39 shares during the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of Penumbra by 3.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after acquiring an additional 41 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the last quarter. Baker Avenue Asset Management LP raised its holdings in Penumbra by 1.6% during the fourth quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company’s stock worth $791,000 after acquiring an additional 53 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Penumbra by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock valued at $1,359,000 after purchasing an additional 57 shares in the last quarter. 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.