Brokerages Set Penumbra, Inc. (NYSE:PEN) PT at $258.00

Penumbra, Inc. (NYSE:PEN) has received a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $258.00.

PEN has been the subject of several recent research reports. Royal Bank of Canada increased their price target on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler raised their target price on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Truist Financial upped their price target on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Robert W. Baird lifted their price objective on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group boosted their target price on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th.

Penumbra Price Performance

Shares of PEN stock opened at $241.97 on Friday. Penumbra has a 12 month low of $148.00 and a 12 month high of $277.34. The company has a market capitalization of $9.29 billion, a P/E ratio of 281.36, a P/E/G ratio of 2.47 and a beta of 0.52. The stock has a 50 day moving average of $238.85 and a two-hundred day moving average of $207.04. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, topping 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 firm had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Penumbra will post 2.81 EPS for the current year.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, November 18th. The shares were sold at an average price of $239.74, for a total transaction of $143,844.00. Following the completion of the sale, the executive vice president now owns 64,044 shares of the company’s stock, valued at approximately $15,353,908.56. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the sale, the chief executive officer now owns 837,582 shares of the company’s stock, valued at $203,498,922.72. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,652 shares of company stock valued at $11,157,589. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

A number of institutional investors have recently made changes to their positions in PEN. True Wealth Design LLC bought a new position in Penumbra during the third quarter worth about $26,000. GAMMA Investing LLC raised 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 valued at $33,000 after acquiring an additional 90 shares during the period. Park Place Capital Corp boosted its stake in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after acquiring an additional 339 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after purchasing an additional 369 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 43 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

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.