Penumbra (NYSE:PEN) Price Target Raised to $325.00

Penumbra (NYSE:PEN) had its target price increased by Truist Financial from $285.00 to $325.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the company. UBS Group upped their target price on Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada upped their target price on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 target price (up from $250.00) on shares of Penumbra in a research report on Wednesday. Oppenheimer began coverage on Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target for the company. Finally, Robert W. Baird upped their price objective on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Stock Down 3.5 %

Shares of NYSE PEN opened at $292.52 on Wednesday. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 860.35, a PEG ratio of 2.23 and a beta of 0.53. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $258.16 and a two-hundred day moving average price of $227.04. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. As a group, analysts forecast that Penumbra will post 3.86 earnings per share for the current fiscal year.

Insider Transactions at Penumbra

In other Penumbra news, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares in the company, valued at $2,058,118.40. This trade represents a 1.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated 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 approximately $15,511,423.56. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,219 shares of company stock worth $4,426,439. 5.00% of the stock is owned by company insiders.

Institutional Trading of Penumbra

A number of hedge funds have recently bought and sold shares of PEN. Creative Planning lifted its position in Penumbra by 4.7% in the third quarter. Creative Planning now owns 1,574 shares of the company’s stock valued at $306,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Penumbra by 808.9% during the third quarter. Blue Trust Inc. now owns 509 shares of the company’s stock valued at $92,000 after buying an additional 453 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Penumbra by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 214,113 shares of the company’s stock worth $41,604,000 after purchasing an additional 3,973 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in Penumbra in the third quarter worth $244,000. Finally, E. Ohman J or Asset Management AB grew its stake in Penumbra by 26.1% in the third quarter. E. Ohman J or Asset Management AB now owns 19,312 shares of the company’s stock worth $3,753,000 after purchasing an additional 4,000 shares during the period. 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.