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

Shares of Penumbra, Inc. (NYSE:PEN) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $193.60.

Several research firms recently weighed in on PEN. Wells Fargo & Company cut shares of Penumbra from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $289.00 to $150.00 in a research note on Wednesday, July 31st. Piper Sandler cut their price objective on Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Robert W. Baird decreased their target price on Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Canaccord Genuity Group cut their price target on Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Citigroup cut Penumbra from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $165.00 to $178.00 in a report on Wednesday, July 31st.

Insiders Place Their Bets

In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the sale, the director now directly owns 1,005 shares in the company, valued at $180,889.95. 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 the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $207.41, for a total transaction of $124,446.00. Following the completion of the transaction, the executive vice president now owns 63,488 shares in the company, valued at $13,168,046.08. The disclosure for this sale can be found here. Insiders sold 31,970 shares of company stock valued at $6,428,404 over the last three months. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 acquiring an additional 67 shares in the last quarter. Mather Group LLC. bought a new position in Penumbra in the first quarter worth approximately $29,000. Signaturefd LLC increased its holdings in Penumbra by 27.2% during the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after purchasing an additional 46 shares during the period. WASHINGTON TRUST Co bought a new stake in Penumbra during the 2nd quarter valued at $54,000. Finally, Quest Partners LLC purchased a new stake in shares of Penumbra in the 4th quarter worth $71,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of Penumbra stock opened at $175.51 on Wednesday. The company has a quick ratio of 3.51, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. Penumbra has a 52 week low of $148.00 and a 52 week high of $302.00. The stock’s 50-day simple moving average is $184.21 and its 200-day simple moving average is $213.97. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 74.06, a PEG ratio of 1.85 and a beta of 0.55.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. The business had revenue of $299.40 million during the quarter, compared to the consensus estimate of $298.24 million. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. As a group, analysts expect that Penumbra will post 2.74 earnings per share for the current fiscal year.

About Penumbra

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.