Penumbra (NYSE:PEN) Price Target Cut to $232.00

Penumbra (NYSE:PEN) had its price target lowered by BTIG Research from $265.00 to $232.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Citigroup dropped their target price on shares of Penumbra from $300.00 to $265.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley dropped their price objective on Penumbra from $235.00 to $210.00 and set an equal weight rating on the stock in a report on Monday. Canaccord Genuity Group reduced their target price on Penumbra from $284.00 to $272.00 and set a buy rating for the company in a report on Wednesday, May 8th. Piper Sandler dropped their price target on Penumbra from $290.00 to $260.00 and set an overweight rating on the stock in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reiterated a hold rating on shares of Penumbra in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $272.00.

Penumbra Stock Performance

Shares of PEN stock opened at $203.25 on Monday. The company has a market cap of $7.88 billion, a P/E ratio of 85.76, a PEG ratio of 1.94 and a beta of 0.55. The firm has a fifty day moving average price of $189.04 and a 200 day moving average price of $219.75. The company has a current ratio of 6.12, a quick ratio of 3.51 and a debt-to-equity ratio of 0.02. Penumbra has a 12 month low of $170.59 and a 12 month high of $319.67.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $278.70 million during the quarter, compared to analysts’ expectations of $274.94 million. Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. Sell-side analysts predict that Penumbra will post 2.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Johanna Roberts sold 600 shares of the company’s 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 of the company’s stock, valued at $13,168,046.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the completion of 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 can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the sale, the chief executive officer now directly owns 942,582 shares in the company, valued at approximately $189,440,130.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,970 shares of company stock worth $3,390,604. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of institutional investors have recently bought and sold shares of PEN. Benjamin F. Edwards & Company Inc. raised its stake in shares of Penumbra by 171.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after buying an additional 67 shares during the last quarter. Mather Group LLC. acquired a new position in Penumbra during the first quarter worth about $29,000. Signaturefd LLC raised its position in Penumbra by 27.2% during the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after acquiring an additional 46 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Penumbra in the fourth quarter valued at about $71,000. Finally, WASHINGTON TRUST Co acquired a new stake in shares of Penumbra in the second quarter valued at approximately $54,000. 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.