Analysts Set Penumbra, Inc. (NYSE:PEN) Price Target at $226.67

Penumbra, Inc. (NYSE:PEN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $226.67.

Several research firms recently issued reports on PEN. Leerink Partners began coverage on shares of Penumbra in a research report on Tuesday, September 3rd. They issued an "outperform" rating and a $263.00 price target for the company. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a report on Thursday, October 31st. BTIG Research raised their target price on Penumbra from $224.00 to $234.00 and gave the company a "buy" rating in a report on Monday, October 14th. Wells Fargo & Company downgraded shares of Penumbra from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $289.00 to $150.00 in a report on Wednesday, July 31st. Finally, Citigroup increased their target price on shares of Penumbra from $178.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, August 22nd.

Penumbra Stock Up 1.5 %

Shares of PEN stock traded up $3.46 on Friday, reaching $236.53. 317,390 shares of the company were exchanged, compared to its average volume of 384,870. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The company has a 50-day moving average of $203.91 and a 200-day moving average of $194.92. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 275.03, a PEG ratio of 2.37 and a beta of 0.51. Penumbra has a one year low of $148.00 and a one year high of $277.34.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.16. The business had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. Analysts anticipate that Penumbra will post 2.79 earnings per share for the current year.

Penumbra announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 13th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Penumbra

In other news, CEO Adam Elsesser sold 15,000 shares of Penumbra 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 completion of the transaction, the chief executive officer now owns 882,582 shares in the company, valued at $174,495,287.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Adam Elsesser sold 15,000 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $197.71, for a total value of $2,965,650.00. Following the completion of the transaction, the chief executive officer now directly owns 882,582 shares of the company's stock, valued at $174,495,287.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the completion of the transaction, the executive vice president now owns 61,688 shares of the company's stock, valued at approximately $10,855,854.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,368 shares of company stock valued at $6,893,118 over the last three months. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Penumbra

Several hedge funds have recently bought and sold shares of the company. Champlain Investment Partners LLC boosted its holdings in Penumbra by 131.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company's stock valued at $242,060,000 after purchasing an additional 616,700 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock worth $71,564,000 after buying an additional 358,932 shares in the last quarter. AQR Capital Management LLC boosted its stake in Penumbra by 439.8% during the second quarter. AQR Capital Management LLC now owns 178,413 shares of the company's stock valued at $31,283,000 after buying an additional 145,364 shares during the period. Dimensional Fund Advisors LP boosted its stake in Penumbra by 96.7% during the second quarter. Dimensional Fund Advisors LP now owns 257,058 shares of the company's stock valued at $46,257,000 after buying an additional 126,392 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Penumbra during the second quarter worth about $17,943,000. Hedge funds and other institutional investors own 88.88% of the company's stock.

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.