Penumbra, Inc. (NYSE:PEN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $304.45.

PEN has been the topic of several analyst reports. Truist Financial reduced their target price on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Piper Sandler restated an “overweight” rating and issued a $290.00 price target on shares of Penumbra in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. cut Penumbra from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $284.00 to $250.00 in a research report on Friday, February 23rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $284.00 price target on shares of Penumbra in a report on Friday, February 23rd.

Insider Transactions at Penumbra

In related news, Director Don W. Kassing sold 778 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $234.72, for a total transaction of $182,612.16. Following the transaction, the director now directly owns 1,345 shares in the company, valued at $315,698.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $237.68, for a total transaction of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares in the company, valued at $14,973,126.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Don W. Kassing sold 778 shares of Penumbra stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $234.72, for a total value of $182,612.16. Following the completion of the transaction, the director now owns 1,345 shares of the company’s stock, valued at $315,698.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,648 shares of company stock valued at $2,369,903. 5.30% of the stock is currently owned by insiders.

Institutional Trading of Penumbra

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp grew its stake in Penumbra by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock worth $95,000 after buying an additional 46 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after acquiring an additional 46 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Penumbra by 171.8% in the 4th 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 during the last quarter. Treasurer of the State of North Carolina lifted its position in Penumbra by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 16,394 shares of the company’s stock valued at $3,966,000 after purchasing an additional 70 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Penumbra by 6.1% during the 3rd quarter. M&T Bank Corp now owns 1,262 shares of the company’s stock valued at $305,000 after purchasing an additional 72 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Stock Down 0.5 %

Penumbra stock opened at $204.41 on Monday. The firm has a market capitalization of $7.92 billion, a P/E ratio of 88.49, a P/E/G ratio of 2.02 and a beta of 0.51. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02. Penumbra has a twelve month low of $180.93 and a twelve month high of $348.67. The stock’s fifty day simple moving average is $228.07 and its 200-day simple moving average is $231.86.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The company had revenue of $284.68 million for the quarter, compared to the consensus estimate of $286.62 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. Penumbra’s revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 EPS. As a group, equities analysts expect that Penumbra will post 2.85 earnings per share for the current fiscal year.

Penumbra Company Profile

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.