Penumbra (NYSE:PEN) Stock Rating Reaffirmed by Truist Financial

Penumbra (NYSE:PEN)‘s stock had its “buy” rating reissued by analysts at Truist Financial in a report issued on Wednesday, Benzinga reports. They currently have a $200.00 price target on the stock, down from their prior price target of $230.00. Truist Financial’s price objective indicates a potential upside of 16.78% from the company’s current price.

Several other analysts have also issued reports on PEN. Citigroup lowered shares of Penumbra from a “buy” rating to a “neutral” rating and boosted their target price for the company from $165.00 to $178.00 in a research report on Wednesday. Wells Fargo & Company downgraded Penumbra from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $289.00 to $150.00 in a research report on Wednesday. Piper Sandler reduced their price target on Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday. Canaccord Genuity Group reduced their target price on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.60.

Penumbra Trading Up 2.5 %

NYSE:PEN opened at $171.26 on Wednesday. The company has a market cap of $6.65 billion, a PE ratio of 72.26, a price-to-earnings-growth ratio of 1.69 and a beta of 0.55. The company has a current ratio of 6.12, a quick ratio of 3.51 and a debt-to-equity ratio of 0.02. The company has a 50 day simple moving average of $184.57 and a two-hundred day simple moving average of $215.18. Penumbra has a 12 month low of $148.00 and a 12 month high of $302.00.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The company had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. Penumbra’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. Research analysts forecast that Penumbra will post 2.88 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $207.41, for a total value of $124,446.00. Following the sale, the executive vice president now directly owns 63,488 shares in the company, valued at $13,168,046.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 63,488 shares in the company, valued at $13,168,046.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 of the company’s stock, valued at approximately $189,440,130.36. The disclosure for this sale can be found here. Insiders sold 31,970 shares of company stock valued at $6,428,404 in the last 90 days. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Penumbra

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Penumbra by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 118,828 shares of the company’s stock worth $29,893,000 after purchasing an additional 8,122 shares during the period. Vanguard Group Inc. boosted its position in shares of Penumbra by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after buying an additional 32,557 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Penumbra by 31.3% during the fourth quarter. Quadrant Capital Group LLC now owns 722 shares of the company’s stock valued at $182,000 after buying an additional 172 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Penumbra in the fourth quarter worth approximately $7,503,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Penumbra by 19.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock valued at $66,697,000 after purchasing an additional 42,876 shares during the period. Institutional investors own 88.88% of the company’s stock.

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.