Brokerages Set Penumbra, Inc. (NYSE:PEN) Price Target at $304.45

Shares of Penumbra, Inc. (NYSE:PEN) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $304.45.

A number of research firms recently weighed in on PEN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $289.00 target price on shares of Penumbra in a report on Friday, February 23rd. TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 price objective on shares of Penumbra in a report on Wednesday, April 3rd. Canaccord Genuity Group reissued a “buy” rating and issued a $284.00 target price on shares of Penumbra in a research note on Friday, February 23rd. Finally, Truist Financial lowered their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd.

Insiders Place Their Bets

In other Penumbra news, Director Don W. Kassing sold 778 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $234.72, for a total transaction of $182,612.16. Following the transaction, the director now owns 1,345 shares in the company, valued at approximately $315,698.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Penumbra news, Director Don W. Kassing sold 778 shares of Penumbra stock in a transaction on Friday, March 1st. The stock was sold at an average price of $234.72, for a total value of $182,612.16. Following the completion of the sale, the director now owns 1,345 shares of the company’s stock, valued at approximately $315,698.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the sale, the executive vice president now owns 64,281 shares of the company’s stock, valued at $13,953,476.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,648 shares of company stock worth $2,369,903. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Penumbra during the fourth quarter worth about $85,222,000. Rock Springs Capital Management LP boosted its holdings in shares of Penumbra by 37.6% in the 3rd quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company’s stock valued at $121,862,000 after acquiring an additional 137,750 shares during the last quarter. Braidwell LP raised its holdings in shares of Penumbra by 133.7% during the fourth quarter. Braidwell LP now owns 222,792 shares of the company’s stock worth $56,041,000 after purchasing an additional 127,477 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Penumbra by 81.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 222,279 shares of the company’s stock valued at $53,772,000 after purchasing an additional 99,754 shares during the period. Finally, TD Asset Management Inc boosted its holdings in Penumbra by 81.8% in the third quarter. TD Asset Management Inc now owns 131,734 shares of the company’s stock valued at $31,868,000 after purchasing an additional 59,266 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Trading Up 0.2 %

Shares of PEN stock opened at $206.15 on Monday. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 89.24, a PEG ratio of 2.00 and a beta of 0.51. The company’s fifty day simple moving average is $230.76 and its two-hundred day simple moving average is $232.07. Penumbra has a 1 year low of $180.93 and a 1 year high of $348.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $284.68 million for the quarter, compared to analyst estimates of $286.62 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. As a group, analysts anticipate that Penumbra will post 2.85 earnings per share for the current year.

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.