Penumbra (NYSE:PEN) PT Raised to $195.00 at Wells Fargo & Co

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Penumbra (NYSE:PEN) had its price objective upped by analysts at Wells Fargo & Co from $185.00 to $195.00 in a research note issued on Friday, Stock Target Advisor reports. The brokerage currently has an “outperform” rating on the stock. Wells Fargo & Co‘s target price points to a potential upside of 18.37% from the stock’s previous close.

A number of other research analysts have also recently issued reports on PEN. Royal Bank of Canada set a $174.00 price objective on shares of Penumbra and gave the company a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research cut shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, ValuEngine cut shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $174.50.

NYSE:PEN traded down $8.19 during mid-day trading on Friday, reaching $164.74. The stock had a trading volume of 1,524,751 shares, compared to its average volume of 452,991. The stock has a 50-day simple moving average of $148.54 and a two-hundred day simple moving average of $150.86. The stock has a market capitalization of $5.71 billion, a PE ratio of 323.02, a P/E/G ratio of 9.46 and a beta of 0.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.23 and a quick ratio of 4.33. Penumbra has a 12 month low of $110.84 and a 12 month high of $185.70.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. The business had revenue of $139.50 million for the quarter, compared to analysts’ expectations of $133.98 million. Penumbra had a net margin of 3.03% and a return on equity of 6.80%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. Equities analysts expect that Penumbra will post 0.89 EPS for the current year.

In other Penumbra news, CEO Adam Elsesser sold 8,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $149.24, for a total transaction of $1,193,920.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lynn Rothman sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $160.13, for a total transaction of $800,650.00. Following the sale, the executive vice president now directly owns 12,012 shares in the company, valued at approximately $1,923,481.56. The disclosure for this sale can be found here. Insiders sold 47,026 shares of company stock worth $6,984,470 over the last three months. 9.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PEN. Thoroughbred Financial Services LLC grew its stake in shares of Penumbra by 16,171.3% during the second quarter. Thoroughbred Financial Services LLC now owns 1,247,360 shares of the company’s stock worth $124,736,000 after buying an additional 1,239,694 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Penumbra by 39.6% during the second quarter. William Blair Investment Management LLC now owns 958,597 shares of the company’s stock worth $153,376,000 after buying an additional 271,784 shares during the last quarter. Ardevora Asset Management LLP bought a new stake in shares of Penumbra during the second quarter worth $36,096,000. Baillie Gifford & Co. grew its stake in shares of Penumbra by 18.5% during the second quarter. Baillie Gifford & Co. now owns 1,095,805 shares of the company’s stock worth $175,329,000 after buying an additional 170,901 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Penumbra by 11.0% during the second quarter. BlackRock Inc. now owns 1,688,948 shares of the company’s stock worth $270,233,000 after buying an additional 167,084 shares during the last quarter. 86.36% of the stock is currently owned by hedge funds and other institutional investors.

About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

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Analyst Recommendations for Penumbra (NYSE:PEN)

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