Penumbra (NYSE:PEN) Sets New 1-Year Low – Should You Sell?

Shares of Penumbra, Inc. (NYSE:PEN) hit a new 52-week low on Monday . The company traded as low as $222.02 and last traded at $221.6050, with a volume of 54690 shares trading hands. The stock had previously closed at $227.37.

Analysts Set New Price Targets

A number of brokerages have weighed in on PEN. Wells Fargo & Company set a $290.00 price objective on Penumbra in a report on Wednesday, October 1st. Morgan Stanley raised their price objective on Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Canaccord Genuity Group set a $350.00 price objective on Penumbra and gave the company a “buy” rating in a report on Wednesday, July 30th. UBS Group set a $335.00 price objective on Penumbra and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Citigroup decreased their price objective on Penumbra from $320.00 to $285.00 and set a “neutral” rating on the stock in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $305.94.

Penumbra Stock Down 1.5%

The business has a 50 day simple moving average of $258.44 and a 200-day simple moving average of $259.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 59.47, a P/E/G ratio of 2.10 and a beta of 0.41.

Insider Activity

In related news, Director Arani Bose sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the sale, the director directly owned 558 shares of the company’s stock, valued at approximately $139,862.70. This trade represents a 95.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Wilder sold 186 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $253.93, for a total value of $47,230.98. Following the sale, the director directly owned 186 shares of the company’s stock, valued at $47,230.98. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 64,460 shares of company stock worth $16,322,614. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Penumbra

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Penumbra by 7.3% in the 2nd quarter. GAMMA Investing LLC now owns 761 shares of the company’s stock valued at $195,000 after acquiring an additional 52 shares in the last quarter. Covestor Ltd grew its position in Penumbra by 53.0% in the 3rd quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after acquiring an additional 62 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after acquiring an additional 66 shares in the last quarter. Quadrant Capital Group LLC grew its position in Penumbra by 2.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,872 shares of the company’s stock valued at $737,000 after acquiring an additional 82 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in Penumbra by 404.8% in the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock valued at $28,000 after acquiring an additional 85 shares in the last quarter. 88.88% of the stock is 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.