Penumbra, Inc. (NYSE:PEN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $302.9333.

Several research analysts have recently issued reports on the stock. UBS Group set a $335.00 target price on shares of Penumbra and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Penumbra in a research note on Saturday, September 27th. Truist Financial set a $310.00 target price on shares of Penumbra and gave the stock a “buy” rating in a research note on Wednesday, July 30th. William Blair raised shares of Penumbra to a “strong-buy” rating in a report on Friday, July 18th. Finally, Citigroup decreased their price objective on shares of Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th.

Insider Activity at Penumbra

In other news, Director Arani Bose sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the transaction, the director directly owned 558 shares of the company’s stock, valued at $139,862.70. The trade was a 95.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Maggie Yuen sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer directly owned 12,943 shares of the company’s stock, valued at $3,235,750. The trade was a 13.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,595 shares of company stock valued at $23,984,492 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PEN. Squarepoint Ops LLC raised its holdings in shares of Penumbra by 9.0% during the fourth quarter. Squarepoint Ops LLC now owns 3,596 shares of the company’s stock valued at $854,000 after purchasing an additional 296 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Penumbra by 74.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,115 shares of the company’s stock valued at $740,000 after buying an additional 1,332 shares during the last quarter. Versant Capital Management Inc increased its holdings in Penumbra by 893.5% during the first quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock valued at $82,000 after buying an additional 277 shares during the last quarter. GAMMA Investing LLC increased its holdings in Penumbra by 42,409.9% during the first quarter. GAMMA Investing LLC now owns 189,594 shares of the company’s stock valued at $50,699,000 after buying an additional 189,148 shares during the last quarter. Finally, Milestone Asset Management LLC purchased a new stake in Penumbra during the first quarter valued at approximately $209,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Trading Up 1.0%

Shares of NYSE PEN opened at $256.05 on Monday. The firm’s 50 day moving average price is $257.64 and its 200-day moving average price is $262.97. The company has a market cap of $9.99 billion, a PE ratio of 68.10, a P/E/G ratio of 2.29 and a beta of 0.41. Penumbra has a 52-week low of $190.08 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $339.46 million for the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Penumbra has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Penumbra will post 3.67 EPS for the current fiscal year.

About Penumbra

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.