Penumbra (NYSE:PEN) Stock Rating Upgraded by StockNews.com

Penumbra (NYSE:PEN - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report released on Thursday.

PEN has been the subject of several other research reports. Morgan Stanley boosted their target price on shares of Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Robert W. Baird boosted their price objective on Penumbra from $305.00 to $328.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Finally, Truist Financial lifted their price objective on shares of Penumbra from $285.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.64.

Penumbra Trading Down 1.3 %

Shares of PEN traded down $3.88 during mid-day trading on Thursday, reaching $287.81. The company had a trading volume of 556,563 shares, compared to its average volume of 529,052. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 846.49, 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. The firm has a fifty day simple moving average of $259.09 and a 200-day simple moving average of $228.69. 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 issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS 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 analysts' expectations of $311.63 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. On average, sell-side analysts anticipate that Penumbra will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 8,530 shares in the company, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam Elsesser sold 15,000 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares in the company, valued at $203,498,922.72. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,219 shares of company stock worth $4,426,439. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning increased its position in Penumbra by 4.7% during the third quarter. Creative Planning now owns 1,574 shares of the company's stock worth $306,000 after buying an additional 71 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Penumbra by 808.9% in the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company's stock valued at $92,000 after acquiring an additional 453 shares in the last quarter. E. Ohman J or Asset Management AB lifted its holdings in Penumbra by 26.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 19,312 shares of the company's stock worth $3,753,000 after purchasing an additional 4,000 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in Penumbra by 3.9% during the third 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 during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Penumbra by 37.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,783 shares of the company's stock valued at $346,000 after purchasing an additional 488 shares during the last quarter. Hedge funds and other 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.