Penumbra, Inc. (NYSE:PEN) Receives $361.33 Average Price Target from Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have received a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. Fourteen research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $361.3333.

Several equities research analysts have recently weighed in on PEN shares. UBS Group reissued a “neutral” rating and set a $374.00 price objective on shares of Penumbra in a research note on Thursday, February 26th. Evercore restated an “outperform” rating and set a $335.00 price objective on shares of Penumbra in a report on Thursday, May 7th. Wall Street Zen upgraded Penumbra to a “hold” rating in a report on Saturday, May 9th. Citigroup cut their price objective on Penumbra from $374.00 to $350.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Canaccord Genuity Group downgraded Penumbra from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $359.00 to $374.00 in a report on Tuesday, January 20th.

Penumbra Stock Performance

PEN opened at $326.26 on Tuesday. The firm has a market cap of $12.83 billion, a PE ratio of 75.17, a P/E/G ratio of 1.97 and a beta of 0.74. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $330.69 and a 200-day simple moving average of $319.70. Penumbra has a fifty-two week low of $221.26 and a fifty-two week high of $362.41.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.24). The company had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The business’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 earnings per share. As a group, equities analysts predict that Penumbra will post 5.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Harpreet Grewal sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the sale, the director directly owned 8,719 shares in the company, valued at approximately $2,861,750.18. This trade represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Maggie Yuen sold 2,432 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the transaction, the chief financial officer directly owned 18,353 shares in the company, valued at $6,282,231.90. This trade represents a 11.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Penumbra

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in Penumbra by 35.8% during the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after purchasing an additional 5,092 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Penumbra by 209.1% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company’s stock worth $70,000 after purchasing an additional 184 shares in the last quarter. Cerity Partners LLC boosted its stake in Penumbra by 22.3% in the second quarter. Cerity Partners LLC now owns 10,030 shares of the company’s stock worth $2,574,000 after purchasing an additional 1,829 shares in the last quarter. California Public Employees Retirement System boosted its stake in Penumbra by 7.9% in the second quarter. California Public Employees Retirement System now owns 61,027 shares of the company’s stock worth $15,661,000 after purchasing an additional 4,491 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Penumbra in the second quarter worth $1,137,000. Institutional investors own 88.88% of the company’s stock.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.