Penumbra (NYSE:PEN) PT Lowered to $180.00

Penumbra (NYSE:PEN) had its price target decreased by analysts at Robert W. Baird from $231.00 to $180.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 7.90% from the stock’s current price.

Other analysts have also issued reports about the stock. Canaccord Genuity Group cut their target price on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. BTIG Research reduced their price target on shares of Penumbra from $265.00 to $232.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company downgraded shares of Penumbra from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $289.00 to $150.00 in a research report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.10.

Penumbra Price Performance

Shares of Penumbra stock traded down $6.27 on Wednesday, hitting $166.82. The company had a trading volume of 1,449,602 shares, compared to its average volume of 360,143. The business has a 50-day simple moving average of $185.60 and a 200-day simple moving average of $215.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.12 and a quick ratio of 3.51. The company has a market cap of $6.47 billion, a PE ratio of 71.03, a PEG ratio of 1.80 and a beta of 0.55. Penumbra has a 52 week low of $148.00 and a 52 week high of $310.51.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The business had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. During the same period in the prior year, the business earned $0.43 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Research analysts expect that Penumbra will post 2.88 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the transaction, the executive vice president now owns 63,488 shares in the company, valued at approximately $13,168,046.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the transaction, the chief executive officer now owns 942,582 shares in the company, valued at approximately $189,440,130.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $207.41, for a total transaction of $124,446.00. Following the transaction, the executive vice president now owns 63,488 shares in the company, valued at approximately $13,168,046.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,970 shares of company stock worth $6,428,404. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC bought a new position in Penumbra in the 2nd quarter worth $215,000. Hantz Financial Services Inc. bought a new position in Penumbra in the 2nd quarter worth $9,810,000. Argonautica Private Wealth Management Inc. bought a new position in Penumbra in the 2nd quarter worth $730,000. Allspring Global Investments Holdings LLC raised its holdings in Penumbra by 11.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 210,140 shares of the company’s stock worth $37,819,000 after acquiring an additional 21,741 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Penumbra by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock worth $58,906,000 after acquiring an additional 4,814 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.