Penumbra, Inc. (NYSE:PEN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $261.36.

PEN has been the topic of several research reports. UBS Group initiated coverage on shares of Penumbra in a research report on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price target on the stock. Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $275.00 in a research report on Wednesday, December 11th. BTIG Research boosted their price target on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Robert W. Baird boosted their price target 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. Finally, Citigroup boosted their price target on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th.

Insider Buying and Selling at Penumbra

In related news, CAO Lambert Shiu sold 1,798 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 33,819 shares of company stock valued at $8,129,483 in the last 90 days. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Penumbra

Large investors have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after buying an additional 3,863 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Penumbra by 3,832.3% in the 3rd 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 during the last quarter. Vontobel Holding Ltd. acquired a new stake in Penumbra in the 3rd quarter worth approximately $1,092,000. AlphaCentric Advisors LLC acquired a new stake in Penumbra in the 3rd quarter worth approximately $777,000. Finally, LMR Partners LLP acquired a new stake in Penumbra in the 3rd quarter worth approximately $2,330,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of NYSE PEN opened at $270.40 on Wednesday. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $277.89. The firm’s 50-day simple moving average is $248.60 and its 200 day simple moving average is $216.83. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.38 billion, a P/E ratio of 314.42, a P/E/G ratio of 2.02 and a beta of 0.52.

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