Brokerages Set Penumbra, Inc. (NYSE:PEN) Target Price at $340.40

by · The Cerbat Gem

Shares of Penumbra, Inc. (NYSE:PEN – Get Free Report) have been assigned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $340.40.

A number of brokerages have recently commented on PEN. Robert W. Baird set a $345.00 price objective on Penumbra in a research report on Tuesday, December 16th. Canaccord Genuity Group boosted their target price on Penumbra from $355.00 to $359.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Needham & Company LLC increased their price target on Penumbra from $326.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research note on Monday, December 29th. Finally, Bank of America boosted their price objective on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, January 5th.

Get Our Latest Stock Report on PEN

Insider Activity

In other news, EVP Johanna Roberts sold 300 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $300.13, for a total value of $90,039.00. Following the completion of the sale, the executive vice president owned 63,836 shares in the company, valued at $19,159,098.68. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Wilder sold 186 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $310.72, for a total value of $57,793.92. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,144 shares of company stock worth $10,260,127 in the last quarter. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Machina Capital S.A.S. acquired a new stake in shares of Penumbra during the second quarter worth approximately $369,000. First Trust Advisors LP increased its stake in Penumbra by 4.0% in the 2nd quarter. First Trust Advisors LP now owns 100,723 shares of the company’s stock valued at $25,849,000 after buying an additional 3,906 shares during the period. Fortis Capital Advisors LLC purchased a new stake in Penumbra in the 1st quarter worth approximately $732,000. Belpointe Asset Management LLC acquired a new stake in shares of Penumbra during the 1st quarter valued at $732,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Penumbra by 22.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 26,604 shares of the company’s stock valued at $6,827,000 after buying an additional 4,960 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Stock Performance

NYSE:PEN opened at $322.29 on Wednesday. The company has a 50-day moving average of $295.16 and a 200-day moving average of $267.00. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 77.10, a price-to-earnings-growth ratio of 1.92 and a beta of 0.71. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02. Penumbra has a twelve month low of $221.26 and a twelve month high of $325.03.

Penumbra (NYSE:PEN – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. The business had revenue of $354.69 million for the quarter, compared to the consensus estimate of $340.77 million. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. Analysts forecast that Penumbra will post 3.67 earnings per share for the current fiscal year.

About Penumbra

(Get Free Report)

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.

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