Penumbra (NYSE:PEN) Sets New 52-Week High – Time to Buy?

Penumbra, Inc. (NYSE:PENGet Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $277.89 and last traded at $276.01, with a volume of 690262 shares. The stock had previously closed at $268.20.

Analyst Ratings Changes

PEN has been the subject of several research reports. Robert W. Baird increased their price target on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler increased their target price on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $190.00 to $275.00 in a report on Wednesday, December 11th. Oppenheimer assumed coverage on Penumbra in a research note on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.36.

View Our Latest Report on PEN

Penumbra Stock Up 2.9 %

The company has a market cap of $10.59 billion, a PE ratio of 320.94, a P/E/G ratio of 1.93 and a beta of 0.52. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average of $245.63 and a 200-day moving average of $214.20.

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

Insider Transactions at Penumbra

In other news, CAO Lambert Shiu sold 1,798 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the transaction, the chief accounting officer now directly owns 20,682 shares of the company’s stock, valued at approximately $5,016,625.92. This trade represents a 8.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the completion of the transaction, the executive vice president now owns 64,044 shares in the company, valued at approximately $15,353,908.56. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,819 shares of company stock worth $8,129,483. 5.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Penumbra

Institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new stake in shares of Penumbra during the third quarter worth about $26,000. GAMMA Investing LLC grew its position in shares of Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after buying an additional 90 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after buying an additional 70 shares during the period. Park Place Capital Corp raised its holdings in shares of Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after acquiring an additional 369 shares during the period. 88.88% of the stock is currently owned by institutional investors.

About Penumbra

(Get Free Report)

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.

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