Penumbra (NYSE:PEN) Given New $285.00 Price Target at Truist Financial

Penumbra (NYSE:PEN) had its price objective boosted by Truist Financial from $240.00 to $285.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on PEN. Canaccord Genuity Group lifted their target price on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup raised their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. BTIG Research boosted their price target on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus began coverage on shares of Penumbra in a research report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price target for the company. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.00.

Penumbra Trading Down 3.5 %

Penumbra stock opened at $238.90 on Wednesday. The firm has a 50-day moving average price of $230.34 and a two-hundred day moving average price of $202.94. Penumbra has a 52-week low of $148.00 and a 52-week high of $277.34. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 277.79, a PEG ratio of 2.47 and a beta of 0.51. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The firm had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. During the same quarter last year, the company earned $0.67 EPS. Penumbra’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that Penumbra will post 2.81 earnings per share for the current year.

Insider Transactions at Penumbra

In other news, Director Harpreet Grewal sold 166 shares of Penumbra stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $190.83, for a total transaction of $31,677.78. Following the sale, the director now directly owns 8,697 shares in the company, valued at approximately $1,659,648.51. The trade was a 1.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $190.76, for a total transaction of $114,456.00. Following the completion of the transaction, the executive vice president now directly owns 60,488 shares of the company’s stock, valued at $11,538,690.88. This trade represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,418 shares of company stock valued at $10,624,973. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of Penumbra

Several institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC acquired a new position in Penumbra during the third quarter worth $26,000. GAMMA Investing LLC increased its position in shares of Penumbra by 111.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Park Place Capital Corp lifted its holdings in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after purchasing an additional 339 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after purchasing an additional 369 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

About Penumbra

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.