Penumbra, Inc. (NYSE:PEN) Receives $258.00 Average Price Target from Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $258.00.

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Oppenheimer started coverage on Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective for the company. BTIG Research lifted their target price on Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised Penumbra from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $190.00 to $275.00 in a research report on Wednesday, December 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Thursday, October 31st.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated 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 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 filing with the SEC, which can be accessed through this link. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the transaction, the chief executive officer now owns 837,582 shares in the company, valued at approximately $203,498,922.72. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,652 shares of company stock worth $11,157,589. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in Penumbra by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock worth $58,906,000 after purchasing an additional 4,814 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Penumbra during the second quarter worth $9,810,000. Commonwealth Equity Services LLC bought a new stake in shares of Penumbra in the second quarter valued at about $215,000. nVerses Capital LLC acquired a new position in shares of Penumbra in the second quarter valued at about $396,000. Finally, Natixis Advisors LLC bought a new position in Penumbra during the second quarter worth about $3,423,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Trading Up 0.8 %

NYSE PEN opened at $241.97 on Friday. Penumbra has a one year low of $148.00 and a one year high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The firm has a market cap of $9.29 billion, a P/E ratio of 281.36, a P/E/G ratio of 2.47 and a beta of 0.52. The stock’s 50-day moving average is $238.85 and its 200-day moving average is $207.04.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The firm had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Sell-side analysts anticipate that Penumbra will post 2.81 earnings per share for the current fiscal year.

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.