Needham & Company LLC Reaffirms Hold Rating for Penumbra (NYSE:PEN)

Penumbra (NYSE:PEN - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports.

PEN has been the subject of a number of other reports. UBS Group started coverage on Penumbra in a research note on Tuesday, January 21st. They issued a "buy" rating and a $305.00 price target for the company. Oppenheimer started coverage on Penumbra in a research report on Tuesday, December 17th. They issued an "outperform" rating and a $275.00 target price for the company. Piper Sandler lifted their price objective on shares of Penumbra from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Truist Financial lifted their price objective on shares of Penumbra from $240.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Robert W. Baird lifted their price target on shares of Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.64.

Penumbra Trading Down 3.5 %

Shares of PEN stock traded down $10.60 on Wednesday, reaching $292.52. 635,327 shares of the stock were exchanged, compared to its average volume of 492,793. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra has a 1-year low of $148.00 and a 1-year high of $310.00. The firm has a 50 day moving average of $259.09 and a two-hundred day moving average of $228.23. The stock has a market cap of $11.27 billion, a P/E ratio of 860.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

Penumbra (NYSE:PEN - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. On average, research analysts anticipate that Penumbra will post 3.67 EPS for the current year.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 167 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value 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 $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the sale, the executive vice president now owns 63,444 shares of the company's stock, valued at approximately $15,511,423.56. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,219 shares of company stock valued at $4,426,439. 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 PEN. True Wealth Design LLC bought a new position in shares of Penumbra during the 3rd quarter valued at $26,000. UMB Bank n.a. raised its holdings in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after buying an additional 70 shares in the last quarter. Hurley Capital LLC bought a new position in Penumbra during the fourth quarter valued at about $56,000. Huntington National Bank raised its holdings in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after buying an additional 154 shares in the last quarter. Finally, Mather Group LLC. raised its stake in shares of Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company's stock valued at $73,000 after acquiring an additional 208 shares in the last quarter. 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.