Wells Fargo & Co Boosts Penumbra (NYSE:PEN) Price Target to $195.00

Penumbra (NYSE:PEN) had its price target boosted by Wells Fargo & Co from $185.00 to $195.00 in a research report issued on Friday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the stock. Wells Fargo & Co‘s price target points to a potential upside of 18.37% from the stock’s current price.

Several other analysts also recently commented on PEN. ValuEngine downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada set a $174.00 target price on Penumbra and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research downgraded Penumbra from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $174.50.

Shares of PEN opened at $164.74 on Friday. The business’s fifty day simple moving average is $148.54 and its two-hundred day simple moving average is $150.86. The company has a current ratio of 6.23, a quick ratio of 4.33 and a debt-to-equity ratio of 0.10. Penumbra has a 12 month low of $110.84 and a 12 month high of $185.70. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 323.02, a P/E/G ratio of 9.46 and a beta of 0.73.

Penumbra (NYSE:PEN) last issued its earnings results on Thursday, November 7th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.18 by $0.07. Penumbra had a return on equity of 6.80% and a net margin of 3.03%. The business had revenue of $139.50 million for the quarter, compared to the consensus estimate of $133.98 million. During the same period last year, the business posted $0.17 EPS. The company’s revenue was up 24.8% compared to the same quarter last year. As a group, research analysts forecast that Penumbra will post 0.89 EPS for the current year.

In other news, Director Harpreet Grewal sold 237 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $134.93, for a total transaction of $31,978.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lynn Rothman sold 5,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $160.13, for a total value of $800,650.00. Following the transaction, the executive vice president now directly owns 12,012 shares in the company, valued at $1,923,481.56. The disclosure for this sale can be found here. Insiders have sold a total of 47,026 shares of company stock worth $6,984,470 over the last three months. Insiders own 9.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEN. HM Payson & Co. bought a new stake in Penumbra during the second quarter valued at about $80,000. First Mercantile Trust Co. bought a new stake in Penumbra during the third quarter valued at about $101,000. Machina Capital S.A.S. bought a new stake in Penumbra during the second quarter valued at about $155,000. CENTRAL TRUST Co raised its holdings in Penumbra by 22.8% during the third quarter. CENTRAL TRUST Co now owns 1,217 shares of the company’s stock valued at $164,000 after acquiring an additional 226 shares during the period. Finally, LS Investment Advisors LLC bought a new stake in Penumbra during the third quarter valued at about $185,000. 86.36% of the stock is currently owned by hedge funds and other institutional investors.

Penumbra Company Profile

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

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