Analysts’ Recent Ratings Changes for Penumbra (PEN)

Penumbra (NYSE: PEN) has recently received a number of price target changes and ratings updates:

• 12/18/2024 – Penumbra had its price target raised by analysts at Truist Financial Co. from $240.00 to $285.00. They now have a “buy” rating on the stock.
• 12/17/2024 – Penumbra is now covered by analysts at Oppenheimer Holdings Inc.. They set an “outperform” rating and a $275.00 price target on the stock.
• 12/11/2024 – Penumbra was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $275.00 price target on the stock, up previously from $190.00.
• 12/11/2024 – Penumbra had its price target raised by analysts at Citigroup Inc. from $220.00 to $245.00. They now have a “neutral” rating on the stock.
• 12/9/2024 – Penumbra had its price target raised by analysts at Canaccord Genuity Group Inc. from $260.00 to $323.00. They now have a “buy” rating on the stock.
• 11/26/2024 – Penumbra had its price target raised by analysts at BTIG Research from $232.00 to $270.00. They now have a “buy” rating on the stock.
• 11/20/2024 – Penumbra had its price target raised by analysts at Piper Sandler from $235.00 to $250.00. They now have an “overweight” rating on the stock.
• 10/31/2024 – Penumbra had its price target raised by analysts at Piper Sandler from $225.00 to $235.00. They now have an “overweight” rating on the stock.
• 10/31/2024 – Penumbra had its price target raised by analysts at Robert W. Baird from $244.00 to $248.00. They now have an “outperform” rating on the stock.
• 10/31/2024 – Penumbra had its “hold” rating reaffirmed by analysts at Needham & Company LLC.

Penumbra Stock Down 0.5 %

NYSE:PEN traded down $1.32 during trading hours on Friday, hitting $239.22. 49,491 shares of the stock traded hands, compared to its average volume of 374,324. The firm has a 50 day moving average price of $234.87 and a 200 day moving average price of $204.94. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 278.16, a PEG ratio of 2.47 and a beta of 0.51. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. The business had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. Penumbra’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. Equities research analysts anticipate that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total value of $146,694.00. Following the sale, the executive vice president now owns 63,444 shares of the company’s stock, valued at $15,511,423.56. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the transaction, the chief executive officer now owns 837,582 shares of the company’s stock, valued at approximately $203,498,922.72. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,418 shares of company stock worth $11,303,723 over the last ninety days. 5.00% of the stock is currently owned by insiders.

Institutional Trading of Penumbra

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Penumbra by 2.1% during the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock worth $1,145,729,000 after buying an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC increased its stake in Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after acquiring an additional 264,122 shares during the period. State Street Corp raised its position in Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock worth $240,298,000 after purchasing an additional 3,863 shares in the last quarter. RTW Investments LP lifted its stake in Penumbra by 7.2% during the third quarter. RTW Investments LP now owns 795,750 shares of the company’s stock worth $154,622,000 after purchasing an additional 53,645 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Penumbra by 128.1% during the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after purchasing an additional 375,684 shares in 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.