UBS Group Issues Positive Forecast for Penumbra (NYSE:PEN) Stock Price

Penumbra (NYSE:PEN - Get Free Report) had its price target hoisted by stock analysts at UBS Group from $305.00 to $320.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's target price suggests a potential upside of 9.39% from the company's current price.

A number of other brokerages have also recently weighed in on PEN. BTIG Research upped their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their target price on shares of Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday. Piper Sandler reiterated an "overweight" rating and issued a $330.00 target price (up previously from $250.00) on shares of Penumbra in a research note on Wednesday. Canaccord Genuity Group upped their target price on shares of Penumbra from $260.00 to $323.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Morgan Stanley upped their target price on shares of Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.64.

Penumbra Stock Down 3.5 %

PEN traded down $10.60 during midday trading on Wednesday, reaching $292.52. The company's stock had a trading volume of 635,327 shares, compared to its average volume of 492,793. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 860.35, a PEG ratio of 2.83 and a beta of 0.53. The company has a current ratio of 6.01, a quick ratio of 3.25 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 stock's 50-day moving average is $259.09 and its 200-day moving average is $228.23.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The business had revenue of $315.52 million for the quarter, compared to analysts' expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, research analysts expect that Penumbra will post 3.67 EPS for the current year.

Insider Activity at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the transaction, the executive vice president now directly owns 63,444 shares in the company, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the transaction, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,219 shares of company stock worth $4,426,439 over the last quarter. Company insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PEN. True Wealth Design LLC bought a new position in Penumbra in the third quarter worth approximately $26,000. UMB Bank n.a. raised its position in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company's stock worth $46,000 after acquiring an additional 70 shares during the period. Hurley Capital LLC purchased a new stake in shares of Penumbra in the fourth quarter worth $56,000. Huntington National Bank increased its stake 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. Finally, Mather Group LLC. increased its stake in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company's stock worth $73,000 after purchasing an additional 208 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

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.