Penumbra (PEN) – Research Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Penumbra (NYSE: PEN) recently:

• 7/31/2024 – Penumbra had its price target lowered by analysts at Piper Sandler from $260.00 to $200.00. They now have an “overweight” rating on the stock.
• 7/31/2024 – Penumbra had its price target lowered by analysts at Robert W. Baird from $231.00 to $180.00. They now have an “outperform” rating on the stock.
• 7/31/2024 – Penumbra had its price target lowered by analysts at Royal Bank of Canada from $289.00 to $205.00. They now have an “outperform” rating on the stock.
• 7/31/2024 – Penumbra was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $178.00 price target on the stock, up previously from $165.00.
• 7/31/2024 – Penumbra had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 7/31/2024 – Penumbra was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $150.00 price target on the stock, down previously from $289.00.
• 7/31/2024 – Penumbra had its price target lowered by analysts at BTIG Research from $232.00 to $187.00. They now have a “buy” rating on the stock.
• 7/31/2024 – Penumbra had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $200.00 price target on the stock, down previously from $230.00.
• 7/31/2024 – Penumbra had its price target lowered by analysts at Canaccord Genuity Group Inc. from $272.00 to $176.00. They now have a “buy” rating on the stock.
• 7/16/2024 – Penumbra had its price target lowered by analysts at Truist Financial Co. from $280.00 to $230.00. They now have a “buy” rating on the stock.
• 7/15/2024 – Penumbra had its price target lowered by analysts at Morgan Stanley from $235.00 to $210.00. They now have an “equal weight” rating on the stock.
• 7/15/2024 – Penumbra had its price target lowered by analysts at BTIG Research from $265.00 to $232.00. They now have a “buy” rating on the stock.
• 7/10/2024 – Penumbra had its price target lowered by analysts at Citigroup Inc. from $300.00 to $265.00. They now have a “buy” rating on the stock.

Penumbra Stock Up 0.9 %

NYSE PEN traded up $1.48 during mid-day trading on Friday, reaching $172.73. 131,568 shares of the company’s stock traded hands, compared to its average volume of 367,654. Penumbra, Inc. has a 1-year low of $148.00 and a 1-year high of $302.00. The company has a fifty day simple moving average of $184.57 and a 200-day simple moving average of $215.18. The company has a current ratio of 6.12, a quick ratio of 3.51 and a debt-to-equity ratio of 0.02. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 72.88, a P/E/G ratio of 1.69 and a beta of 0.55.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The company had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. During the same quarter last year, the business posted $0.43 EPS. Penumbra’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts expect that Penumbra, Inc. will post 2.88 EPS for the current year.

Insider Buying and Selling

In related news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00. Following the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $179.99, for a total value of $30,598.30. Following the sale, the director now directly owns 1,005 shares in the company, valued at approximately $180,889.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.98, for a total value of $3,014,700.00. Following the completion of the sale, the chief executive officer now owns 942,582 shares in the company, valued at $189,440,130.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,970 shares of company stock valued at $6,428,404. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Penumbra

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Penumbra by 7.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock worth $29,893,000 after acquiring an additional 8,122 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Penumbra by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock worth $823,681,000 after acquiring an additional 32,557 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Penumbra by 31.3% in the 4th quarter. Quadrant Capital Group LLC now owns 722 shares of the company’s stock worth $182,000 after acquiring an additional 172 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Penumbra in the 4th quarter worth $7,503,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Penumbra by 19.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock worth $66,697,000 after acquiring an additional 42,876 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.