UBS Group Raises Penumbra (NYSE:PEN) Price Target to $320.00

Penumbra (NYSE:PEN) had its price target upped by UBS Group from $305.00 to $320.00 in a report issued on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research firms have also recently commented on PEN. Robert W. Baird lifted their target price on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday. Citigroup lifted their target price on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. BTIG Research lifted their target price on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Oppenheimer started coverage on Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 target price on the stock. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Stock Up 12.0 %

Penumbra stock opened at $303.55 on Wednesday. Penumbra has a 1-year low of $148.00 and a 1-year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The stock has a market cap of $11.65 billion, a PE ratio of 352.97, a P/E/G ratio of 1.97 and a beta of 0.53. The stock’s fifty day moving average is $256.15 and its two-hundred day moving average is $225.97.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. On average, sell-side analysts expect that Penumbra will post 2.81 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the sale, the executive vice president now directly owns 63,444 shares in the company, valued at $15,511,423.56. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,219 shares of company stock valued at $4,426,439. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Penumbra

Institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new stake in Penumbra in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. boosted its stake in shares of Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after acquiring an additional 70 shares in the last quarter. Hurley Capital LLC purchased a new stake in shares of Penumbra during the 4th quarter worth approximately $56,000. Huntington National Bank boosted its stake in shares of Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after acquiring an additional 154 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after acquiring an additional 208 shares in the last quarter. Hedge funds and other institutional investors 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.