Penumbra (NYSE:PEN) Price Target Raised to $285.00 at JPMorgan Chase & Co.

Penumbra (NYSE:PEN - Get Free Report) had its target price increased by JPMorgan Chase & Co. from $230.00 to $285.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 2.57% from the stock's current price.

Other research analysts have also recently issued reports about the company. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research note on Wednesday. Royal Bank of Canada boosted their target price on Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a research note on Wednesday. Robert W. Baird boosted their target price on Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a research note on Wednesday. BTIG Research boosted their target price on Penumbra from $232.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their target price on Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $292.64.

Penumbra Trading Down 3.5 %

Shares of Penumbra stock traded down $10.60 during trading on Wednesday, reaching $292.52. 635,327 shares of the company were exchanged, compared to its average volume of 492,793. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra has a twelve month low of $148.00 and a twelve month high of $310.00. The business has a 50-day moving average price of $259.09 and a 200-day moving average price of $228.23. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 860.35, a P/E/G ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $315.52 million during the quarter, compared to analysts' expectations of $311.63 million. Sell-side analysts anticipate that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 167 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares of the company's stock, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the transaction, the chief accounting officer now directly owns 20,682 shares of the company's stock, valued at $5,016,625.92. This trade represents a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,219 shares of company stock valued at $4,426,439. Insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company's stock valued at $1,145,729,000 after buying an additional 121,465 shares during the last quarter. Champlain Investment Partners LLC lifted its position in shares of 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 buying an additional 264,122 shares during the last quarter. State Street Corp lifted its position in shares of Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company's stock valued at $240,298,000 after buying an additional 3,863 shares during the last quarter. RTW Investments LP lifted its position in shares of Penumbra by 8.4% in the fourth quarter. RTW Investments LP now owns 862,450 shares of the company's stock valued at $204,815,000 after buying an additional 66,700 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company's stock valued at $173,416,000 after buying an additional 138,387 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

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.