Penumbra, Inc. (NYSE:PEN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $340.40.

A number of brokerages recently weighed in on PEN. Bank of America boosted their price target on shares of Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a research report on Monday. Canaccord Genuity Group boosted their target price on Penumbra from $355.00 to $359.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Evercore ISI restated an “outperform” rating and set a $340.00 price target on shares of Penumbra in a research note on Monday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $355.00 price objective on shares of Penumbra in a research note on Wednesday, December 17th. Finally, Truist Financial increased their price objective on Penumbra from $312.00 to $370.00 and gave the company a “buy” rating in a report on Thursday, December 18th.

Penumbra Stock Performance

Shares of PEN opened at $315.96 on Wednesday. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 75.59, a price-to-earnings-growth ratio of 1.92 and a beta of 0.71. Penumbra has a 52-week low of $221.26 and a 52-week high of $321.38. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $289.92 and a 200 day moving average price of $265.84.

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

Insider Buying and Selling at Penumbra

In other news, Director Arani Bose sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $308.82, for a total value of $4,632,300.00. Following the completion of the sale, the director directly owned 258,462 shares of the company’s stock, valued at approximately $79,818,234.84. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 300 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $300.13, for a total transaction of $90,039.00. Following the sale, the executive vice president owned 63,836 shares of the company’s stock, valued at $19,159,098.68. This trade represents a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,958 shares of company stock worth $10,201,976 in the last quarter. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in Penumbra by 35.8% during the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after acquiring an additional 5,092 shares during the period. United Services Automobile Association acquired a new position in shares of Penumbra in the first quarter valued at approximately $656,000. Woodline Partners LP raised its stake in shares of Penumbra by 476.1% during the first quarter. Woodline Partners LP now owns 145,881 shares of the company’s stock worth $39,010,000 after purchasing an additional 120,558 shares during the last quarter. Bayforest Capital Ltd lifted its holdings in shares of Penumbra by 35.9% during the first quarter. Bayforest Capital Ltd now owns 1,431 shares of the company’s stock worth $383,000 after purchasing an additional 378 shares during the period. Finally, Glenview Trust co acquired a new stake in shares of Penumbra during the first quarter worth $230,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

About Penumbra

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.