Penumbra (PEN) Price Target Raised to $125.00 at Wells Fargo & Co
Penumbra (NYSE:PEN) had its price target hoisted by Wells Fargo & Co from $120.00 to $125.00 in a research report sent to investors on Wednesday morning. The firm currently has an outperform rating on the stock.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered Penumbra from a hold rating to a sell rating in a report on Wednesday, January 10th. BMO Capital Markets lowered Penumbra from an outperform rating to a market perform rating and reduced their target price for the company from $117.00 to $110.00 in a report on Tuesday, December 12th. They noted that the move was a valuation call. Canaccord Genuity increased their target price on Penumbra from $100.00 to $113.00 and gave the company a buy rating in a report on Wednesday, November 8th. William Blair assumed coverage on Penumbra in a report on Wednesday, February 21st. They issued an outperform rating for the company. Finally, JPMorgan Chase & Co. lowered Penumbra from an overweight rating to a neutral rating in a report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $121.67.
Penumbra (PEN) traded up $4.50 on Wednesday, hitting $112.95. The stock had a trading volume of 263,077 shares, compared to its average volume of 244,588. The stock has a market capitalization of $3,860.00 and a price-to-earnings ratio of 230.51. Penumbra has a one year low of $74.30 and a one year high of $116.35.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Penumbra by 1.4% in the fourth quarter. BlackRock Inc. now owns 1,939,033 shares of the company’s stock worth $182,462,000 after acquiring an additional 26,949 shares during the last quarter. Redmile Group LLC increased its stake in shares of Penumbra by 9.2% in the fourth quarter. Redmile Group LLC now owns 617,279 shares of the company’s stock worth $58,086,000 after acquiring an additional 51,768 shares during the last quarter. State Street Corp increased its stake in shares of Penumbra by 13.2% in the second quarter. State Street Corp now owns 579,911 shares of the company’s stock worth $50,887,000 after acquiring an additional 67,441 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Penumbra by 10.3% in the third quarter. Eagle Asset Management Inc. now owns 563,290 shares of the company’s stock worth $51,991,000 after acquiring an additional 52,372 shares during the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new position in shares of Penumbra in the fourth quarter worth $33,998,000. 71.09% of the stock is currently owned by institutional investors and hedge funds.
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Penumbra Company Profile
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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