Penumbra (NYSE:PEN) PT Lowered to $265.00 at Citigroup

Penumbra (NYSE:PEN) had its price objective lowered by Citigroup from $300.00 to $265.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

PEN has been the subject of a number of other research reports. Truist Financial cut their price target on shares of Penumbra from $290.00 to $280.00 and set a buy rating for the company in a report on Friday, March 22nd. Canaccord Genuity Group reduced their price objective on shares of Penumbra from $284.00 to $272.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Piper Sandler cut their price target on shares of Penumbra from $290.00 to $260.00 and set an overweight rating on the stock in a research note on Wednesday, May 8th. Finally, Needham & Company LLC restated a hold rating on shares of Penumbra in a research note on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $287.60.

Penumbra Stock Up 2.4 %

PEN opened at $190.83 on Wednesday. Penumbra has a twelve month low of $170.59 and a twelve month high of $323.34. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $189.70 and a 200 day moving average price of $220.98. The company has a market cap of $7.40 billion, a PE ratio of 80.52, a price-to-earnings-growth ratio of 1.89 and a beta of 0.55.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $278.70 million during the quarter, compared to analyst estimates of $274.94 million. Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. Sell-side analysts expect that Penumbra will post 2.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $179.20, for a total transaction of $107,520.00. Following the transaction, the executive vice president now directly owns 62,288 shares in the company, valued at $11,162,009.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $179.20, for a total value of $107,520.00. Following the sale, the executive vice president now directly owns 62,288 shares in the company, valued at $11,162,009.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the transaction, the chief executive officer now directly owns 942,582 shares in the company, valued at approximately $189,440,130.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,970 shares of company stock worth $3,390,604. 5.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Penumbra

A number of hedge funds have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. grew its holdings in Penumbra by 171.8% during 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 in the last quarter. Mather Group LLC. bought a new stake in Penumbra in the 1st quarter valued at about $29,000. Signaturefd LLC raised its position in shares of Penumbra by 27.2% during the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after buying an additional 46 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Penumbra during the 4th quarter worth about $71,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of Penumbra in the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors 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.