Penumbra, Inc. (NYSE:PEN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Penumbra, Inc. (NYSE:PEN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $304.45.

Several analysts recently weighed in on PEN shares. Canaccord Genuity Group reiterated a "buy" rating and issued a $284.00 target price on shares of Penumbra in a report on Friday, February 23rd. JPMorgan Chase & Co. downgraded shares of Penumbra from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $284.00 to $250.00 in a report on Friday, February 23rd. Truist Financial dropped their target price on shares of Penumbra from $290.00 to $280.00 and set a "buy" rating for the company in a report on Friday, March 22nd. TheStreet upgraded shares of Penumbra from a "d+" rating to a "c-" rating in a report on Friday, January 12th. Finally, Piper Sandler restated an "overweight" rating and issued a $290.00 price target (down previously from $310.00) on shares of Penumbra in a research note on Friday, February 23rd.

Insider Activity at Penumbra

In related news, Director Arani Bose sold 7,500 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the completion of the sale, the director now directly owns 164,294 shares of the company's stock, valued at $41,106,358.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Arani Bose sold 7,500 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the completion of the sale, the director now directly owns 164,294 shares of the company's stock, valued at $41,106,358.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $237.68, for a total transaction of $142,608.00. Following the completion of the sale, the executive vice president now directly owns 62,997 shares of the company's stock, valued at $14,973,126.96. The disclosure for this sale can be found here. Insiders sold a total of 8,963 shares of company stock valued at $2,222,773 over the last ninety days. Insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PEN. Vanguard Group Inc. grew its position in Penumbra by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 3,658,103 shares of the company's stock worth $920,159,000 after buying an additional 58,184 shares during the period. Price T Rowe Associates Inc. MD grew its position in Penumbra by 58.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,104,590 shares of the company's stock worth $780,930,000 after buying an additional 1,140,807 shares during the period. Finally, State Street Corp grew its position in Penumbra by 1.5% during the second quarter. State Street Corp now owns 1,061,701 shares of the company's stock worth $365,289,000 after buying an additional 16,028 shares during the period. 88.88% of the stock is currently owned by institutional investors and hedge funds.

Penumbra Stock Performance

PEN traded down $3.20 during midday trading on Thursday, hitting $223.18. 387,503 shares of the company were exchanged, compared to its average volume of 357,772. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 96.62, a price-to-earnings-growth ratio of 2.18 and a beta of 0.52. Penumbra has a 1-year low of $180.93 and a 1-year high of $348.67. The company's 50 day simple moving average is $248.16 and its 200 day simple moving average is $237.53. The company has a current ratio of 6.06, a quick ratio of 3.49 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The business had revenue of $284.68 million for the quarter, compared to analyst estimates of $286.62 million. During the same period last year, the company posted $0.16 EPS. The business's revenue was up 28.7% on a year-over-year basis. As a group, sell-side analysts predict that Penumbra will post 2.85 earnings per share for the current year.

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.