Penumbra (NYSE:PEN) Rating Reiterated by Needham & Company LLC

Penumbra (NYSE:PEN)‘s stock had its “hold” rating restated by analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports.

A number of other analysts also recently commented on PEN. Royal Bank of Canada restated an “outperform” rating and set a $289.00 price objective on shares of Penumbra in a report on Friday, February 23rd. Canaccord Genuity Group restated a “buy” rating and set a $284.00 price target on shares of Penumbra in a research note on Friday, February 23rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Truist Financial decreased their target price on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. lowered shares of Penumbra from an “overweight” rating to a “neutral” rating and cut their price target for the company from $284.00 to $250.00 in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $300.64.

Penumbra Trading Up 3.1 %

NYSE PEN opened at $209.40 on Wednesday. The company has a market cap of $8.12 billion, a P/E ratio of 90.65, a P/E/G ratio of 2.06 and a beta of 0.57. Penumbra has a 12 month low of $180.93 and a 12 month high of $348.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.06 and a quick ratio of 3.49. The company has a 50-day moving average of $220.57 and a 200-day moving average of $231.66.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The company had revenue of $278.70 million during the quarter, compared to analysts’ expectations of $274.94 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Penumbra’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts predict that Penumbra will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the completion of the transaction, the executive vice president now directly owns 64,281 shares in the company, valued at $13,953,476.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Penumbra news, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $223.18, for a total transaction of $37,940.60. Following the sale, the director now directly owns 1,175 shares in the company, valued at approximately $262,236.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the transaction, the executive vice president now owns 64,281 shares of the company’s stock, valued at $13,953,476.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,648 shares of company stock valued at $2,369,903. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC bought a new position in Penumbra during the 4th quarter worth approximately $7,503,000. Allspring Global Investments Holdings LLC boosted its holdings in Penumbra by 19.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock worth $66,697,000 after purchasing an additional 42,876 shares during the period. Yousif Capital Management LLC boosted its holdings in Penumbra by 1.3% in the fourth quarter. Yousif Capital Management LLC now owns 18,399 shares of the company’s stock worth $4,628,000 after purchasing an additional 234 shares during the period. Aigen Investment Management LP bought a new stake in Penumbra during the third quarter valued at $209,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Penumbra during the third quarter worth $424,000. Institutional investors own 88.88% of the company’s stock.

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.