Penumbra, Inc. (NYSE:PEN) Given Average Rating of "Moderate Buy" by Analysts

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $292.64.

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com cut Penumbra from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. boosted their target price on Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Truist Financial upped their price target on Penumbra from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th.

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Penumbra Trading Up 1.6 %

NYSE:PEN opened at $266.51 on Thursday. The company has a market capitalization of $10.26 billion, a PE ratio of 783.85, a P/E/G ratio of 2.83 and a beta of 0.51. Penumbra has a 52-week low of $148.00 and a 52-week high of $310.00. The stock's 50 day moving average price is $268.84 and its 200 day moving average price is $236.72. 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 (NYSE:PEN - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. On average, research analysts anticipate that Penumbra will post 3.67 EPS for the current year.

Insider Buying and Selling

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the completion of the transaction, the chief executive officer now owns 16,376 shares in the company, valued at approximately $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $286.00, for a total transaction of $572,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,243 shares in the company, valued at $4,359,498. This trade represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,918 shares of company stock worth $22,054,293 in the last quarter. Company insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. True Wealth Design LLC purchased a new position in Penumbra during the third quarter worth $26,000. UMB Bank n.a. boosted its stake in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after acquiring an additional 70 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Penumbra during the fourth quarter valued at $56,000. Huntington National Bank increased its position in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock worth $63,000 after purchasing an additional 154 shares in the last quarter. Finally, Mather Group LLC. raised its stake in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after purchasing an additional 208 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.

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