Robert W. Baird Trims Penumbra (NYSE:PEN) Target Price to $180.00

Penumbra (NYSE:PEN) had its price objective decreased by Robert W. Baird from $231.00 to $180.00 in a report published on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Truist Financial reaffirmed a buy rating and issued a $200.00 price objective (down from $230.00) on shares of Penumbra in a research note on Wednesday. Citigroup lowered Penumbra from a buy rating to a neutral rating and boosted their target price for the stock from $165.00 to $178.00 in a research report on Wednesday. BTIG Research cut their target price on shares of Penumbra from $265.00 to $232.00 and set a buy rating on the stock in a report on Monday, July 15th. Royal Bank of Canada decreased their price target on shares of Penumbra from $289.00 to $205.00 and set an outperform rating for the company in a report on Wednesday. Finally, Morgan Stanley dropped their price objective on Penumbra from $235.00 to $210.00 and set an equal weight rating on the stock in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $193.60.

Penumbra Stock Up 2.5 %

Shares of PEN opened at $175.51 on Wednesday. The business’s fifty day moving average price is $184.21 and its two-hundred day moving average price is $214.27. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 74.06, a PEG ratio of 1.85 and a beta of 0.55. Penumbra has a 52 week low of $148.00 and a 52 week high of $302.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.25.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. The business had revenue of $299.40 million for the quarter, compared to analysts’ expectations of $298.24 million. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 earnings per share. On average, analysts predict that Penumbra will post 2.74 earnings per share for the current year.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $179.20, for a total transaction of $107,520.00. Following the sale, the executive vice president now directly owns 62,288 shares of the company’s stock, valued at approximately $11,162,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $179.20, for a total transaction of $107,520.00. Following the transaction, the executive vice president now owns 62,288 shares of the company’s stock, valued at approximately $11,162,009.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the transaction, the director now directly owns 1,005 shares of the company’s stock, valued at $180,889.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,970 shares of company stock worth $6,428,404. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Penumbra

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Penumbra by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after purchasing an additional 32,557 shares during the last quarter. Champlain Investment Partners LLC grew its stake in Penumbra by 131.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after buying an additional 616,700 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Penumbra by 12.2% in the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock valued at $186,066,000 after acquiring an additional 90,444 shares during the period. Norges Bank acquired a new stake in Penumbra during the fourth quarter worth approximately $85,222,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Penumbra by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock worth $58,906,000 after acquiring an additional 4,814 shares during the period. 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.