Analysts Set Penumbra Inc (PEN) Price Target at $145.57

Shares of Penumbra Inc (NYSE:PEN) have received a consensus rating of “Buy” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $145.57.

PEN has been the subject of several analyst reports. ValuEngine downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. BMO Capital Markets increased their target price on shares of Penumbra from $140.00 to $150.00 and gave the company a “market perform” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of Penumbra from a “hold” rating to a “strong-buy” rating and set a $143.00 target price for the company in a report on Saturday, August 11th. Canaccord Genuity reiterated a “buy” rating and issued a $175.00 target price on shares of Penumbra in a report on Monday, August 20th. Finally, TheStreet upgraded shares of Penumbra from a “d+” rating to a “c” rating in a report on Monday, September 17th.

In related news, insider James Robert Pray sold 8,125 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $135.34, for a total transaction of $1,099,637.50. Following the completion of the sale, the insider now owns 1,578 shares in the company, valued at $213,566.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $150.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. Insiders have sold 12,790 shares of company stock valued at $1,753,683 in the last 90 days. 10.70% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Preferred LLC increased its stake in shares of Penumbra by 40.1% in the second quarter. Advisors Preferred LLC now owns 1,220 shares of the company’s stock worth $169,000 after purchasing an additional 349 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Penumbra in the third quarter worth about $210,000. BlueMountain Capital Management LLC bought a new position in shares of Penumbra in the second quarter valued at approximately $267,000. Piedmont Investment Advisors Inc. bought a new position in shares of Penumbra in the third quarter valued at approximately $332,000. Finally, NumerixS Investment Technologies Inc boosted its position in shares of Penumbra by 20.0% in the second quarter. NumerixS Investment Technologies Inc now owns 2,520 shares of the company’s stock valued at $354,000 after acquiring an additional 420 shares during the period. Institutional investors and hedge funds own 74.16% of the company’s stock.

Shares of Penumbra stock traded up $3.62 during trading hours on Friday, reaching $129.04. The company’s stock had a trading volume of 2,671 shares, compared to its average volume of 451,550. Penumbra has a one year low of $82.55 and a one year high of $167.35. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -12,860.50, a price-to-earnings-growth ratio of 13.20 and a beta of 0.41.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Monday, November 5th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.14. The firm had revenue of $111.80 million for the quarter, compared to analyst estimates of $103.59 million. Penumbra had a net margin of 2.15% and a return on equity of 4.21%. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. As a group, sell-side analysts forecast that Penumbra will post 0.47 earnings per share for the current fiscal year.

Penumbra Company Profile

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

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Analyst Recommendations for Penumbra (NYSE:PEN)

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