Penumbra (NYSE:PEN) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Penumbra (NYSE:PEN) in a report issued on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $305.00 price target on the stock.

A number of other equities analysts also recently commented on the stock. Robert W. Baird upped their price objective on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Citigroup increased their price target on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Canaccord Genuity Group raised 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 boosted their target price on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, Truist Financial raised their price target on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $261.36.

Penumbra Stock Down 0.9 %

PEN stock opened at $273.27 on Tuesday. The stock has a market cap of $10.49 billion, a P/E ratio of 317.75, a PEG ratio of 1.96 and a beta of 0.52. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra has a twelve month low of $148.00 and a twelve month high of $277.89. The company’s 50 day moving average is $246.43 and its two-hundred day moving average is $214.64.

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

Insider Activity at Penumbra

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $242.56, for a total value of $436,122.88. Following the sale, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. This trade represents a 8.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the transaction, the chief executive officer now directly owns 852,582 shares of the company’s stock, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,819 shares of company stock valued at $8,129,483. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after acquiring an additional 375,684 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after purchasing an additional 358,932 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after buying an additional 264,122 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Penumbra in the third quarter valued at about $31,965,000. Finally, Braidwell LP raised its holdings in shares of Penumbra by 70.0% during the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after buying an additional 148,834 shares during the period. 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.