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

Penumbra (NYSE:PEN - Free Report) had its target price upped by Truist Financial from $240.00 to $285.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently commented on PEN. BTIG Research boosted their target price on Penumbra from $232.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Citigroup boosted their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 11th. Wells Fargo & Company upgraded shares of Penumbra from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Oppenheimer began coverage on shares of Penumbra in a research report on Tuesday. They set an "outperform" rating and a $275.00 target price for the company. Finally, Stifel Nicolaus initiated coverage on shares of Penumbra in a research report on Tuesday, September 17th. They issued a "buy" rating and a $238.00 price target on the stock. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $258.00.

Penumbra Price Performance

Penumbra stock traded down $8.65 during midday trading on Wednesday, reaching $238.90. The company's stock had a trading volume of 472,022 shares, compared to its average volume of 375,672. The firm has a market capitalization of $9.17 billion, a PE ratio of 277.79, a P/E/G ratio of 2.47 and a beta of 0.51. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $277.34. The stock's 50 day simple moving average is $230.34 and its 200 day simple moving average is $202.94. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The firm had revenue of $301.04 million during the quarter, compared to analysts' expectations of $297.36 million. During the same quarter last year, the business earned $0.67 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Penumbra will post 2.81 earnings per share for the current year.

Insider Buying and Selling

In other Penumbra news, Director Harpreet Grewal sold 166 shares of Penumbra stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total value of $31,677.78. Following the transaction, the director now owns 8,697 shares of the company's stock, valued at approximately $1,659,648.51. The trade was a 1.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the sale, the executive vice president now directly owns 63,444 shares in the company, valued at $15,511,423.56. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,418 shares of company stock worth $10,624,973 over the last three months. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Penumbra

A number of hedge funds and other institutional investors have recently bought and sold shares of PEN. Advisors Asset Management Inc. boosted 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 valued at $81,000 after acquiring an additional 43 shares during the period. ProShare Advisors LLC boosted its holdings in 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 purchasing an additional 62 shares during the period. Legacy Wealth Asset Management LLC grew its position 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 worth $336,000 after purchasing an additional 65 shares in the last quarter. Creative Planning grew its position in shares of Penumbra by 4.7% during the 3rd quarter. Creative Planning now owns 1,574 shares of the company's stock worth $306,000 after purchasing an additional 71 shares in the last quarter. Finally, Arcadia Investment Management Corp MI increased its holdings in shares of Penumbra by 7.9% during the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company's stock worth $181,000 after purchasing an additional 74 shares during the period. 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.