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

Shares of Penumbra, Inc. (NYSE:PEN) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $304.45.

PEN has been the topic of a number of recent analyst reports. Truist Financial reduced their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. JPMorgan Chase & Co. lowered Penumbra from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $284.00 to $250.00 in a research report on Friday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $289.00 price target on shares of Penumbra in a research report on Friday, February 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 price target on shares of Penumbra in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $284.00 price target on shares of Penumbra in a research report on Friday, February 23rd.

Penumbra Price Performance

Shares of PEN opened at $204.41 on Monday. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02. Penumbra has a 1 year low of $180.93 and a 1 year high of $348.67. The stock has a market cap of $7.91 billion, a P/E ratio of 88.49, a price-to-earnings-growth ratio of 2.04 and a beta of 0.51. The stock’s 50-day moving average price is $228.07 and its two-hundred day moving average price is $231.75.

Penumbra (NYSE:PEN) last issued its earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The firm had revenue of $284.68 million for the quarter, compared to analysts’ expectations of $286.62 million. During the same quarter last year, the business earned $0.16 earnings per share. The company’s revenue was up 28.7% compared to the same quarter last year. On average, equities analysts predict that Penumbra will post 2.85 earnings per share for the current year.

Insider Activity at Penumbra

In other Penumbra news, Director Don W. Kassing sold 778 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $234.72, for a total transaction of $182,612.16. Following the transaction, the director now owns 1,345 shares of the company’s stock, valued at approximately $315,698.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Penumbra news, Director Don W. Kassing sold 778 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $234.72, for a total transaction of $182,612.16. Following the transaction, the director now owns 1,345 shares of the company’s stock, valued at approximately $315,698.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.07, for a total value of $130,242.00. Following the transaction, the executive vice president now directly owns 64,281 shares in the company, valued at approximately $13,953,476.67. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,648 shares of company stock valued at $2,369,903. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PEN. SG Americas Securities LLC boosted its stake in shares of Penumbra by 102.7% during the 3rd quarter. SG Americas Securities LLC now owns 4,053 shares of the company’s stock worth $980,000 after acquiring an additional 2,053 shares during the period. Artemis Investment Management LLP boosted its stake in shares of Penumbra by 22.2% during the 3rd quarter. Artemis Investment Management LLP now owns 2,764 shares of the company’s stock worth $668,000 after acquiring an additional 503 shares during the period. Washington Trust Advisors Inc. bought a new stake in Penumbra in the 3rd quarter valued at $501,000. Linden Thomas Advisory Services LLC boosted its stake in Penumbra by 16.1% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,651 shares of the company’s stock valued at $1,367,000 after purchasing an additional 784 shares during the period. Finally, Xponance Inc. boosted its stake in Penumbra by 1.1% in the 3rd quarter. Xponance Inc. now owns 8,482 shares of the company’s stock valued at $2,052,000 after purchasing an additional 92 shares during the period. 88.88% of the stock is currently owned by institutional investors.

Penumbra Company Profile

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.