Penumbra (NYSE:PEN) Sets New 12-Month High – Time to Buy?

Penumbra, Inc. (NYSE:PEN) shares hit a new 52-week high during trading on Friday . The company traded as high as $323.58 and last traded at $323.9010, with a volume of 400324 shares traded. The stock had previously closed at $315.54.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PEN shares. JPMorgan Chase & Co. upgraded Penumbra from a “neutral” rating to an “overweight” rating and increased their target price for the company from $275.00 to $370.00 in a research note on Thursday, December 18th. Canaccord Genuity Group upped their price target on Penumbra from $355.00 to $359.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Penumbra in a research report on Monday, December 29th. Robert W. Baird set a $345.00 price objective on shares of Penumbra in a research note on Tuesday, December 16th. Finally, Needham & Company LLC boosted their target price on shares of Penumbra from $326.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $340.40.

Penumbra Stock Up 2.1%

The firm has a fifty day simple moving average of $295.16 and a 200-day simple moving average of $267.08. The company has a market capitalization of $12.62 billion, a PE ratio of 77.10, a P/E/G ratio of 1.97 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.18 and a current ratio of 6.73.

Penumbra (NYSE:PEN) last released its quarterly earnings results 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. The business had revenue of $354.69 million during 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 quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. Equities research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Insider Activity at Penumbra

In related news, Director Arani Bose sold 15,000 shares of Penumbra stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $308.82, for a total value of $4,632,300.00. Following the completion of the transaction, the director directly owned 258,462 shares in the company, valued at approximately $79,818,234.84. This trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johanna Roberts sold 1,800 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $300.06, for a total value of $540,108.00. Following the completion of the sale, the executive vice president directly owned 64,736 shares of the company’s stock, valued at approximately $19,424,684.16. This represents a 2.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,144 shares of company stock valued at $10,260,127 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Penumbra by 35.8% in the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after acquiring an additional 5,092 shares during the last quarter. Glenview Trust co bought a new stake in Penumbra during the first quarter valued at $230,000. Belpointe Asset Management LLC acquired a new stake in shares of Penumbra during the first quarter worth $732,000. E. Ohman J or Asset Management AB lifted its position in shares of Penumbra by 10.2% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 18,312 shares of the company’s stock worth $4,699,000 after buying an additional 1,700 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Penumbra by 53.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,999 shares of the company’s stock worth $1,255,000 after buying an additional 1,748 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.