Penumbra (NYSE:PEN) Earns Buy Rating from Analysts at UBS Group

Analysts at UBS Group initiated coverage on shares of Penumbra (NYSE:PEN) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $305.00 price target on the stock. UBS Group’s target price would indicate a potential upside of 15.50% from the stock’s current price.

Other analysts have also issued reports about the company. Truist Financial increased their target price on Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $190.00 to $275.00 in a research note on Wednesday, December 11th. Robert W. Baird upped their price objective on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler raised their target price on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Finally, BTIG Research boosted their target price on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.36.

Penumbra Price Performance

NYSE:PEN opened at $264.08 on Tuesday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 307.07, a P/E/G ratio of 1.93 and a beta of 0.52. Penumbra has a 12-month low of $148.00 and a 12-month high of $277.34. The stock’s 50 day moving average price is $244.55 and its two-hundred day moving average price is $212.98.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.16. The company had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 earnings per share. On average, analysts anticipate that Penumbra will post 2.81 earnings per share for the current year.

Insider Activity at Penumbra

In other Penumbra news, CAO Lambert Shiu sold 1,798 shares of Penumbra stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the transaction, the chief accounting officer now owns 20,682 shares in the company, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the sale, the executive vice president now directly owns 64,044 shares of the company’s stock, valued at $15,353,908.56. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,819 shares of company stock valued at $8,129,483. 5.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Penumbra

A number of hedge funds have recently bought and sold shares of PEN. True Wealth Design LLC bought a new position in Penumbra in the 3rd quarter valued at $26,000. GAMMA Investing LLC raised its stake in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after acquiring an additional 90 shares during the period. UMB Bank n.a. lifted its holdings in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the last quarter. Park Place Capital Corp boosted its position in Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after purchasing an additional 339 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

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.