Penumbra (NYSE:PEN) Rating Reiterated by 92 Resources

Penumbra (NYSE:PEN – Get Rating)‘s stock had its “maintains” rating reissued by equities research analysts at 92 Resources in a note issued to investors on Wednesday, Benzinga reports.

Other equities analysts have also issued research reports about the stock. 58.com reissued a “maintains” rating on shares of Penumbra in a report on Wednesday, May 3rd. Truist Financial lifted their price target on shares of Penumbra from $320.00 to $350.00 in a research report on Thursday, May 18th. Canaccord Genuity Group raised their price objective on shares of Penumbra from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, February 24th. StockNews.com assumed coverage on shares of Penumbra in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Needham & Company LLC lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.33.

Penumbra Price Performance

Penumbra stock opened at $304.90 on Wednesday. Penumbra has a 52-week low of $114.86 and a 52-week high of $324.38. The stock’s 50 day moving average price is $289.48 and its two-hundred day moving average price is $252.21. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.02 and a current ratio of 5.37. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 1,905.74 and a beta of 0.54.

Penumbra (NYSE:PEN – Get Rating) last announced its earnings results on Tuesday, May 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.12. The firm had revenue of $241.40 million during the quarter, compared to analyst estimates of $229.70 million. Penumbra had a return on equity of 1.58% and a net margin of 0.73%. The business’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS. On average, equities analysts predict that Penumbra will post 1.56 earnings per share for the current year.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 1,500 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $319.67, for a total transaction of $479,505.00. Following the sale, the executive vice president now directly owns 68,925 shares in the company, valued at $22,033,254.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Harpreet Grewal sold 710 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $259.48, for a total transaction of $184,230.80. Following the transaction, the director now directly owns 11,410 shares in the company, valued at $2,960,666.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $319.67, for a total transaction of $479,505.00. Following the transaction, the executive vice president now owns 68,925 shares in the company, valued at $22,033,254.75. The disclosure for this sale can be found here. Insiders have sold a total of 24,826 shares of company stock worth $7,332,139 in the last quarter. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in shares of Penumbra by 44.1% during the 2nd quarter. Captrust Financial Advisors now owns 219 shares of the company’s stock worth $27,000 after purchasing an additional 67 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of Penumbra in the 4th quarter valued at approximately $27,000. Arcadia Investment Management Corp MI bought a new stake in shares of Penumbra in the 4th quarter valued at approximately $30,000. Massmutual Trust Co. FSB ADV grew its stake in Penumbra by 116.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 108 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new position in Penumbra during the 4th quarter worth $32,000. Institutional investors and hedge funds own 82.42% of the company’s stock.

About Penumbra

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Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers neurovascular thrombectomy and embolization and access technologies, neurosurgical tools, Penumbra LANTERN Delivery Microcatheter, and Penumbra Occlusion Device (POD) system. The company was founded by Arani Bose and Adam Elsesser on June 21, 2004, and is headquartered in Alameda, CA.