Penumbra (NYSE:PEN) Stock Rating Upgraded by Leerink Partnrs

Penumbra (NYSE:PEN) was upgraded by analysts at Leerink Partnrs to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

A number of other equities analysts have also recently issued reports on PEN. Truist Financial reissued a “buy” rating and issued a $200.00 target price (down from $230.00) on shares of Penumbra in a report on Wednesday, July 31st. Royal Bank of Canada cut their price objective on Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. BTIG Research boosted their target price on shares of Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley dropped their target price on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Finally, Citigroup boosted their price target on shares of Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and an average price target of $205.27.

Penumbra Stock Down 1.3 %

PEN opened at $202.32 on Tuesday. The company has a market capitalization of $7.86 billion, a P/E ratio of 85.37, a P/E/G ratio of 2.26 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77. The firm’s fifty day moving average price is $186.30 and its two-hundred day moving average price is $203.25. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $302.00.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The business had revenue of $299.40 million for the quarter, compared to analyst estimates of $298.24 million. During the same period in the previous year, the business earned $0.43 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. On average, analysts anticipate that Penumbra will post 2.64 EPS for the current year.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the business’s 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 completion of the transaction, the executive vice president now owns 62,288 shares in the company, valued at approximately $11,162,009.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.20, for a total value of $107,520.00. Following the completion of the sale, the executive vice president now directly owns 62,288 shares of the company’s stock, valued at approximately $11,162,009.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Don W. Kassing sold 170 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.99, for a total value of $30,598.30. Following the sale, the director now owns 1,005 shares of the company’s stock, valued at approximately $180,889.95. The disclosure for this sale can be found here. Insiders have sold 17,990 shares of company stock valued at $3,605,506 over the last three months. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. grew its position in shares of Penumbra by 171.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after buying an additional 67 shares during the period. Mather Group LLC. acquired a new stake in Penumbra during the 1st quarter worth $29,000. WASHINGTON TRUST Co bought a new stake in shares of Penumbra during the 2nd quarter valued at $54,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after purchasing an additional 369 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Penumbra in the 4th quarter worth $71,000. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.