Penumbra (NYSE:PEN) Coverage Initiated by Analysts at UBS Group

Research analysts at UBS Group began coverage on shares of Penumbra (NYSE:PEN - Get Free Report) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $305.00 price target on the stock. UBS Group's price objective would suggest a potential upside of 13.62% from the company's current price.

Several other brokerages have also commented on PEN. Canaccord Genuity Group boosted their price target on Penumbra from $260.00 to $323.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Wells Fargo & Company raised Penumbra from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Truist Financial raised their price target on Penumbra from $240.00 to $285.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. BTIG Research boosted their price objective 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, Piper Sandler raised their target price on shares of Penumbra from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $261.36.

Penumbra Stock Performance

Shares of PEN stock traded up $4.76 during trading hours on Tuesday, reaching $268.45. 413,084 shares of the company's stock were exchanged, compared to its average volume of 499,926. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. Penumbra has a 1 year low of $148.00 and a 1 year high of $277.34. The company has a market cap of $10.30 billion, a P/E ratio of 312.15, a price-to-earnings-growth ratio of 1.93 and a beta of 0.52. The company's 50 day moving average is $244.99 and its two-hundred day moving average is $213.59.

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

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00. Following the completion of the transaction, the chief executive officer now owns 852,582 shares of the company's stock, valued at approximately $202,300,656.96. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,819 shares of company stock worth $8,129,483 over the last quarter. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Penumbra

Several hedge funds and other institutional investors have recently modified their holdings of PEN. Pallas Capital Advisors LLC raised its holdings in Penumbra by 3.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,108 shares of the company's stock valued at $263,000 after buying an additional 41 shares during the period. Advisors Asset Management Inc. increased its position in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company's stock worth $81,000 after acquiring an additional 43 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Penumbra by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company's stock valued at $391,000 after acquiring an additional 62 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in shares of Penumbra by 3.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,731 shares of the company's stock valued at $336,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after purchasing an additional 70 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

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.