Penumbra (NYSE:PEN) Given New $187.00 Price Target at BTIG Research

Penumbra (NYSE:PEN) had its target price lowered by BTIG Research from $232.00 to $187.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on PEN. Morgan Stanley reduced their price target on Penumbra from $235.00 to $210.00 and set an equal weight rating for the company in a report on Monday, July 15th. Piper Sandler cut their price objective on Penumbra from $260.00 to $200.00 and set an overweight rating on the stock in a research note on Wednesday. Robert W. Baird cut their price objective on Penumbra from $231.00 to $180.00 and set an outperform rating on the stock in a research note on Wednesday. Wells Fargo & Company cut Penumbra from an overweight rating to an equal weight rating and cut their price objective for the company from $289.00 to $150.00 in a research note on Wednesday. Finally, Royal Bank of Canada cut their price objective on Penumbra from $289.00 to $205.00 and set an outperform rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $193.60.

Penumbra Trading Down 3.5 %

Shares of PEN opened at $167.09 on Wednesday. The company has a market capitalization of $6.48 billion, a P/E ratio of 70.50, a P/E/G ratio of 1.74 and a beta of 0.55. Penumbra has a one year low of $148.00 and a one year high of $310.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12. The stock has a 50-day moving average price of $184.96 and a 200 day moving average price of $215.49.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $299.40 million during the quarter, compared to the consensus estimate of $298.24 million. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. Penumbra’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 earnings per share. Sell-side analysts forecast that Penumbra will post 2.88 EPS for the current fiscal year.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00. Following the sale, the chief executive officer now directly owns 942,582 shares in the company, valued at approximately $189,440,130.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $188.90, for a total value of $113,340.00. Following the sale, the executive vice president now directly owns 62,888 shares in the company, valued at approximately $11,879,543.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.98, for a total value of $3,014,700.00. Following the completion of the sale, the chief executive officer now owns 942,582 shares in the company, valued at $189,440,130.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,970 shares of company stock worth $6,428,404. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Penumbra

Large investors have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC boosted its stake in Penumbra by 131.8% during the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after purchasing an additional 616,700 shares in the last quarter. Norges Bank bought a new position in Penumbra during the 4th quarter valued at $85,222,000. Braidwell LP boosted its stake in Penumbra by 133.7% during the 4th quarter. Braidwell LP now owns 222,792 shares of the company’s stock valued at $56,041,000 after purchasing an additional 127,477 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Penumbra by 12.2% during the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock valued at $186,066,000 after purchasing an additional 90,444 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Penumbra by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,658,103 shares of the company’s stock valued at $920,159,000 after purchasing an additional 58,184 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.