Analysts Set Penumbra, Inc. (NYSE:PEN) Target Price at $230.92

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fourteen brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $230.92.

A number of research firms have commented on PEN. BTIG Research lifted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Stifel Nicolaus began coverage on shares of Penumbra in a research note on Tuesday, September 17th. They issued a "buy" rating and a $238.00 price objective on the stock. Needham & Company LLC restated a "hold" rating on shares of Penumbra in a research note on Thursday, October 31st. Robert W. Baird boosted their price target on shares of Penumbra from $244.00 to $248.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Finally, Leerink Partners initiated coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They set an "outperform" rating and a $263.00 price target on the stock.

Penumbra Stock Performance

PEN traded up $0.40 on Tuesday, reaching $245.24. The company had a trading volume of 279,206 shares, compared to its average volume of 377,868. Penumbra has a 1 year low of $148.00 and a 1 year high of $277.34. The stock has a market capitalization of $9.41 billion, a PE ratio of 285.47, a P/E/G ratio of 2.46 and a beta of 0.51. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $217.76 and a 200-day moving average price of $198.74.

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

Penumbra announced that its board has approved a share repurchase program on Tuesday, August 13th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00. Following the sale, the chief executive officer now owns 882,582 shares of the company's stock, valued at $174,495,287.22. This represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $239.74, for a total transaction of $143,844.00. Following the completion of the sale, the executive vice president now directly owns 64,044 shares in the company, valued at $15,353,908.56. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,148 shares of company stock valued at $10,042,842. Corporate insiders own 5.00% of the company's stock.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its holdings in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock valued at $81,000 after purchasing an additional 43 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Penumbra by 2.9% during the second quarter. ProShare Advisors LLC now owns 2,171 shares of the company's stock valued at $391,000 after buying an additional 62 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in shares of Penumbra by 3.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company's stock valued at $336,000 after buying an additional 65 shares during the period. Creative Planning lifted its stake in shares of Penumbra by 4.7% during the third quarter. Creative Planning now owns 1,574 shares of the company's stock valued at $306,000 after buying an additional 71 shares during the period. Finally, Arcadia Investment Management Corp MI lifted its stake in shares of Penumbra by 7.9% during the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company's stock valued at $181,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

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.