Analysts Set Penumbra, Inc. (NYSE:PEN) Price Target at $261.36

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have been given an average rating of "Moderate Buy" by the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $292.64.

Several brokerages have commented on PEN. Royal Bank of Canada raised their price objective on shares of Penumbra from $285.00 to $313.00 and gave the stock an "outperform" rating in a report on Wednesday. Robert W. Baird lifted their price target on Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a research report on Wednesday. Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. BTIG Research upped their target price on shares of Penumbra from $232.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company lifted their price target on shares of Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday.

Insider Activity at Penumbra

In related news, CAO Lambert Shiu sold 1,798 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the sale, the chief accounting officer now owns 20,682 shares in the company, valued at approximately $5,016,625.92. This represents a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares in the company, valued at $15,511,423.56. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,219 shares of company stock valued at $4,426,439. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Penumbra

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company's stock worth $33,000 after acquiring an additional 90 shares during the period. CWM LLC increased its stake in shares of Penumbra by 29.7% in the 3rd quarter. CWM LLC now owns 2,011 shares of the company's stock worth $391,000 after purchasing an additional 461 shares in the last quarter. Creative Planning raised its holdings in Penumbra by 4.7% in the 3rd quarter. Creative Planning now owns 1,574 shares of the company's stock worth $306,000 after purchasing an additional 71 shares during the period. Vontobel Holding Ltd. purchased a new position in Penumbra during the third quarter valued at $1,092,000. Finally, Blue Trust Inc. lifted its position in Penumbra by 808.9% during the third quarter. Blue Trust Inc. now owns 509 shares of the company's stock valued at $92,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Trading Up 12.0 %

Shares of PEN stock traded up $32.41 during mid-day trading on Friday, reaching $303.55. The stock had a trading volume of 1,631,903 shares, compared to its average volume of 510,051. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock's 50-day moving average price is $256.15 and its two-hundred day moving average price is $225.97. The firm has a market capitalization of $11.65 billion, a PE ratio of 352.97, a price-to-earnings-growth ratio of 1.97 and a beta of 0.53. Penumbra has a 52-week low of $148.00 and a 52-week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. Equities analysts expect that Penumbra will post 2.81 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.