Penumbra (NYSE:PEN) Downgraded by StockNews.com to Hold

Penumbra (NYSE:PEN - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Friday.

PEN has been the subject of a number of other research reports. Piper Sandler reaffirmed an "overweight" rating and set a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Oppenheimer started coverage on shares of Penumbra in a research report on Tuesday, December 17th. They set an "outperform" rating and a $275.00 price target for the company. Royal Bank of Canada lifted their price objective 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. Finally, Robert W. Baird increased their price objective on shares of Penumbra from $305.00 to $328.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $292.64.

Penumbra Stock Down 0.1 %

NYSE PEN traded down $0.30 during trading on Friday, hitting $285.14. The company's stock had a trading volume of 201,959 shares, compared to its average volume of 393,516. The company has a market cap of $10.98 billion, a PE ratio of 840.79, a P/E/G ratio of 2.83 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The business's 50 day simple moving average is $263.25 and its 200-day simple moving average is $232.55. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly 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 business had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. On average, equities analysts anticipate that Penumbra will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total value of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares of the company's stock, valued at approximately $203,498,922.72. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the business's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now directly owns 8,530 shares of the company's stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Penumbra

Several large investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Penumbra during the fourth quarter worth approximately $573,000. State Street Corp grew its holdings in shares of Penumbra by 0.3% during the third quarter. State Street Corp now owns 1,236,671 shares of the company's stock worth $240,298,000 after buying an additional 3,863 shares in the last quarter. 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 valued at $71,564,000 after buying an additional 358,932 shares during the last quarter. E. Ohman J or Asset Management AB lifted its stake in shares of Penumbra by 10.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company's stock worth $5,061,000 after buying an additional 2,000 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in Penumbra during the third quarter worth about $777,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

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.