Robert W. Baird Issues Positive Forecast for Penumbra (NYSE:PEN) Stock Price

Penumbra (NYSE:PEN) had its target price boosted by equities research analysts at Robert W. Baird from $305.00 to $328.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 21.04% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Canaccord Genuity Group raised their price objective on shares of Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler boosted their target price on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Citigroup raised their price target 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. UBS Group started coverage on shares of Penumbra in a research report on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra currently has a consensus rating of “Moderate Buy” and an average target price of $267.07.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $270.99 on Wednesday. The firm’s 50 day simple moving average is $255.58 and its 200 day simple moving average is $225.29. 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 company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 315.10, a P/E/G ratio of 1.97 and a beta of 0.53. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $277.89.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. As a group, sell-side analysts forecast that Penumbra will post 2.81 earnings per share for the current year.

Insider Activity at Penumbra

In other news, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the transaction, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at $5,016,625.92. This represents a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the sale, the executive vice president now directly owns 63,444 shares of the company’s stock, valued at $15,511,423.56. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,219 shares of company stock worth $4,426,439. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC grew its holdings in Penumbra by 6.6% in the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company’s stock valued at $150,000 after buying an additional 39 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in shares of Penumbra by 3.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company’s stock valued at $263,000 after acquiring an additional 41 shares in the last quarter. Advisors Asset Management Inc. increased its position in Penumbra by 11.5% during the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 43 shares during the period. Baker Avenue Asset Management LP raised its stake in Penumbra by 1.6% in the 4th quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company’s stock worth $791,000 after purchasing an additional 53 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Penumbra by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 5,721 shares of the company’s stock worth $1,359,000 after purchasing an additional 57 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

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.