Penumbra (NYSE:PEN) Stock Price Expected to Rise, Truist Financial Analyst Says

Penumbra (NYSE:PEN - Get Free Report) had its price target hoisted by Truist Financial from $285.00 to $325.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 11.10% from the stock's previous close.

PEN has been the subject of several other reports. Royal Bank of Canada increased their target price on Penumbra from $285.00 to $313.00 and gave the company an "outperform" rating in a report on Wednesday. UBS Group increased their price objective on Penumbra from $305.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday. Citigroup raised their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, December 11th. Wells Fargo & Company increased their price target on shares of Penumbra from $275.00 to $305.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, BTIG Research boosted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $292.64.

Penumbra Price Performance

Shares of PEN stock traded down $10.60 during trading hours on Wednesday, hitting $292.52. 635,327 shares of the company's stock were exchanged, compared to its average volume of 492,793. The company has a market capitalization of $11.27 billion, a PE 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 12-month low of $148.00 and a 12-month high of $310.00. The business's 50 day simple moving average is $259.09 and its 200-day simple moving average is $228.23.

Penumbra (NYSE:PEN - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping 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 company had revenue of $315.52 million for the quarter, compared to analysts' expectations of $311.63 million. On average, equities research analysts anticipate that Penumbra will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In other news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the transaction, the chief executive officer now owns 837,582 shares of the company's stock, valued at $203,498,922.72. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the company's stock in a transaction dated 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 transaction, the director now owns 8,530 shares in the company, 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. In the last quarter, insiders sold 18,219 shares of company stock valued at $4,426,439. Corporate insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PEN. China Universal Asset Management Co. Ltd. purchased a new position in Penumbra in the 4th quarter worth approximately $573,000. State Street Corp increased its holdings in shares of Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company's stock worth $240,298,000 after purchasing an additional 3,863 shares in the last quarter. Thrivent Financial for Lutherans raised its stake 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 worth $71,564,000 after purchasing an additional 358,932 shares during the last quarter. E. Ohman J or Asset Management AB lifted its holdings in shares of Penumbra by 10.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company's stock valued at $5,061,000 after purchasing an additional 2,000 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in shares of Penumbra during the third quarter valued at $777,000. Institutional investors own 88.88% of the company's stock.

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.