Penumbra (NYSE:PEN - Free Report) had its target price lifted by Canaccord Genuity Group from $323.00 to $340.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.
Other equities analysts have also issued research reports about the company. Citigroup boosted their price objective on Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 11th. UBS Group boosted their price objective on Penumbra from $305.00 to $320.00 and gave the stock a "buy" rating in a research note on Wednesday. Piper Sandler reissued an "overweight" rating and set a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday. BTIG Research upped their price target on Penumbra from $232.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley upped their price target on Penumbra from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Penumbra presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.64.
Check Out Our Latest Stock Analysis on Penumbra
Penumbra Trading Down 3.5 %
NYSE PEN traded down $10.60 on Wednesday, reaching $292.52. 635,327 shares of the company were exchanged, compared to its average volume of 492,793. The business's fifty day moving average price is $259.09 and its 200 day moving average price is $228.23. The stock has a market capitalization 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. 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 fifty-two week low of $148.00 and a fifty-two week high of $310.00.
Penumbra (NYSE:PEN - Get Free Report) last released 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 company had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Analysts forecast that Penumbra will post 3.67 earnings per share for the current year.
Insider Buying and Selling
In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the sale, the chief accounting officer now owns 20,682 shares in the company, valued at $5,016,625.92. This represents a 8.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total value of $146,694.00. Following the sale, the executive vice president now owns 63,444 shares in the company, valued at approximately $15,511,423.56. This trade represents 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. Corporate insiders own 5.00% of the company's stock.
Institutional Investors Weigh In On Penumbra
Several large investors have recently bought and sold shares of PEN. True Wealth Design LLC purchased a new stake in Penumbra during the 3rd quarter worth about $26,000. UMB Bank n.a. increased its holdings in shares of Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $46,000 after acquiring an additional 70 shares during the last quarter. Hurley Capital LLC purchased a new position in shares of Penumbra in the 4th quarter valued at about $56,000. Huntington National Bank increased its holdings in shares of Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after acquiring an additional 154 shares during the last quarter. Finally, Mather Group LLC. increased its holdings 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 during the last quarter. Hedge funds and other institutional investors own 88.88% of the company's stock.
Penumbra Company Profile
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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.
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