Penumbra, Inc. (NYSE:PEN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Penumbra, Inc. (NYSE:PEN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $258.00.

A number of research firms have recently weighed in on PEN. Oppenheimer assumed coverage on Penumbra in a report on Tuesday, December 17th. They set an "outperform" rating and a $275.00 target price for the company. Canaccord Genuity Group boosted their price objective on shares of Penumbra from $260.00 to $323.00 and gave the company a "buy" rating in a report on Monday, December 9th. Truist Financial increased their target price on shares of Penumbra from $240.00 to $285.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Leerink Partnrs upgraded shares of Penumbra to a "strong-buy" rating in a research report on Tuesday, September 3rd. Finally, Stifel Nicolaus assumed coverage on Penumbra in a research report on Tuesday, September 17th. They set a "buy" rating and a $238.00 price target on the stock.

Penumbra Stock Performance

Shares of PEN stock traded down $0.69 during midday trading on Friday, hitting $239.85. 294,374 shares of the company were exchanged, compared to its average volume of 375,315. Penumbra has a 52 week low of $148.00 and a 52 week high of $277.34. The firm has a market capitalization of $9.21 billion, a P/E ratio of 278.90, a PEG ratio of 2.47 and a beta of 0.51. The firm's 50 day moving average price is $235.50 and its two-hundred day moving average price is $205.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82.

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

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00. Following the sale, the executive vice president now directly owns 60,488 shares in the company, valued at $11,538,690.88. This trade represents a 0.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harpreet Grewal sold 166 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total transaction of $31,677.78. Following the completion of the transaction, the director now owns 8,697 shares of the company's stock, valued at approximately $1,659,648.51. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,418 shares of company stock worth $11,303,723 over the last quarter. Corporate insiders own 5.00% of the company's stock.

Institutional Trading of Penumbra

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its position in shares of Penumbra by 0.3% in the 3rd 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. Renaissance Technologies LLC acquired a new position in shares of Penumbra in the second quarter worth approximately $17,943,000. Thrivent Financial for Lutherans increased its position in Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock valued at $71,564,000 after purchasing an additional 358,932 shares during the period. Vontobel Holding Ltd. bought a new position in Penumbra during the 3rd quarter worth approximately $1,092,000. Finally, AlphaCentric Advisors LLC bought a new position in Penumbra during the 3rd quarter worth approximately $777,000. 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.