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

Shares of Penumbra, Inc. (NYSE:PENGet Free Report) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $293.10.

A number of equities research analysts have weighed in on the company. Truist Financial lowered their price objective on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Wednesday, May 8th. Canaccord Genuity Group lowered their price target on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Piper Sandler decreased their target price on Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th.

View Our Latest Report on PEN

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the completion of the transaction, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at approximately $13,168,046.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the transaction, the executive vice president now owns 63,488 shares in the company, valued at approximately $13,168,046.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the completion of the sale, the chief executive officer now directly owns 942,582 shares in the company, valued at approximately $189,440,130.36. The disclosure for this sale can be found here. Insiders sold 16,970 shares of company stock valued at $3,390,604 in the last three months. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEN. Benjamin F. Edwards & Company Inc. raised its stake in Penumbra by 171.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Mather Group LLC. purchased a new stake in Penumbra during the 1st quarter worth approximately $29,000. Signaturefd LLC lifted its stake in Penumbra by 27.2% during the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after acquiring an additional 46 shares during the period. Quest Partners LLC acquired a new stake in Penumbra during the 4th quarter valued at approximately $71,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of Penumbra in the 4th quarter valued at $88,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Stock Performance

Shares of NYSE:PEN opened at $179.46 on Friday. The firm has a market capitalization of $6.96 billion, a PE ratio of 75.72, a P/E/G ratio of 1.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.12 and a quick ratio of 3.51. The business has a 50-day moving average of $190.45 and a two-hundred day moving average of $221.97. Penumbra has a 12 month low of $170.59 and a 12 month high of $328.57.

Penumbra (NYSE:PENGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The company had revenue of $278.70 million during the quarter, compared to analyst estimates of $274.94 million. During the same quarter last year, the business posted $0.23 EPS. Penumbra’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts forecast that Penumbra will post 2.87 earnings per share for the current year.

About Penumbra

(Get Free Report

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.

Further Reading

Analyst Recommendations for Penumbra (NYSE:PEN)

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