Penumbra, Inc. (NYSE:PEN) Receives $294.47 Average Target Price from Brokerages

Penumbra, Inc. (NYSE:PEN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seventeen research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $293.80.

A number of research analysts have recently commented on PEN shares. Oppenheimer started coverage on Penumbra in a report on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price target on the stock. Royal Bank of Canada raised their target price on shares of Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Penumbra in a research note on Wednesday, February 19th. Robert W. Baird increased their price objective on shares of Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. boosted their target price on Penumbra from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th.

Penumbra Stock Performance

Shares of PEN stock traded up $3.87 on Monday, hitting $272.44. 388,806 shares of the stock traded hands, compared to its average volume of 411,290. The company's fifty day moving average is $274.33 and its 200 day moving average is $248.80. Penumbra has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a market capitalization of $10.49 billion, a PE ratio of 801.28, a PEG ratio of 2.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. On average, equities research analysts predict that Penumbra will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $287.43, for a total value of $172,458.00. Following the transaction, the executive vice president now directly owns 66,539 shares of the company's stock, valued at $19,125,304.77. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Wilder sold 360 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $264.58, for a total transaction of $95,248.80. Following the completion of the sale, the director now owns 4,533 shares of the company's stock, valued at approximately $1,199,341.14. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,236 shares of company stock valued at $31,222,390 over the last three months. Company insiders own 5.00% of the company's stock.

Institutional Trading of Penumbra

Several hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. lifted its stake in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after acquiring an additional 70 shares in the last quarter. Hurley Capital LLC acquired a new position in shares of Penumbra in the 4th quarter valued at about $56,000. Huntington National Bank lifted its position in shares of Penumbra by 138.7% in the fourth 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. Mather Group LLC. boosted its holdings in shares of Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after purchasing an additional 208 shares during the period. Finally, Versant Capital Management Inc grew its position in Penumbra by 893.5% during the first quarter. Versant Capital Management Inc now owns 308 shares of the company's stock valued at $82,000 after purchasing an additional 277 shares in the last quarter. Institutional investors and hedge funds 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.