UBS Group Issues Positive Forecast for Penumbra (NYSE:PEN) Stock Price

Penumbra (NYSE:PEN) had its price objective raised by UBS Group from $305.00 to $320.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently commented on PEN. Truist Financial increased their price target on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Canaccord Genuity Group increased their price target on Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup increased their price target on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Robert W. Baird increased their price objective on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Price Performance

Shares of Penumbra stock opened at $303.55 on Wednesday. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The stock has a market capitalization of $11.65 billion, a P/E ratio of 352.97, a PEG ratio of 1.97 and a beta of 0.53. The business has a 50 day simple moving average of $256.15 and a two-hundred day simple moving average of $225.97.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. As a group, analysts predict that Penumbra will post 2.81 EPS for the current fiscal year.

Insider Transactions at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares in the company, valued at $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,219 shares of company stock worth $4,426,439 over the last ninety days. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PEN. True Wealth Design LLC purchased a new position in Penumbra in the third quarter valued at $26,000. UMB Bank n.a. boosted its holdings in Penumbra by 57.4% in 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 period. Hurley Capital LLC purchased a new position in Penumbra in the fourth quarter valued at $56,000. Huntington National Bank boosted its holdings in Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after purchasing an additional 154 shares during the period. Finally, Mather Group LLC. boosted its holdings in Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares during the period. 88.88% of the stock is currently owned by hedge funds and other 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.