Penumbra (NYSE:PEN) Earns Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Penumbra (NYSE:PEN - Free Report) in a report published on Wednesday morning, Benzinga reports. Piper Sandler currently has a $290.00 target price on the stock.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada reissued an outperform rating and issued a $289.00 target price on shares of Penumbra in a research report on Friday, February 23rd. JPMorgan Chase & Co. cut Penumbra from an overweight rating to a neutral rating and dropped their target price for the stock from $284.00 to $250.00 in a research report on Friday, February 23rd. TheStreet raised Penumbra from a d+ rating to a c- rating in a research report on Friday, January 12th. Canaccord Genuity Group reissued a buy rating and issued a $284.00 target price on shares of Penumbra in a research report on Friday, February 23rd. Finally, Truist Financial dropped their target price on Penumbra from $290.00 to $280.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $304.45.

Penumbra Stock Up 1.7 %

Shares of NYSE:PEN traded up $3.67 on Wednesday, hitting $215.17. 279,304 shares of the company traded hands, compared to its average volume of 354,783. Penumbra has a 52 week low of $180.93 and a 52 week high of $348.67. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $245.42 and a 200-day simple moving average of $235.46. The company has a market cap of $8.33 billion, a PE ratio of 93.07, a PEG ratio of 2.15 and a beta of 0.51.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The firm had revenue of $284.68 million during the quarter, compared to the consensus estimate of $286.62 million. During the same period last year, the company earned $0.16 earnings per share. The company's revenue was up 28.7% on a year-over-year basis. As a group, research analysts expect that Penumbra will post 2.85 earnings per share for the current year.

Insider Transactions at Penumbra

In other Penumbra news, Director Don W. Kassing sold 778 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $234.72, for a total transaction of $182,612.16. Following the sale, the director now owns 1,345 shares of the company's stock, valued at approximately $315,698.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $237.68, for a total transaction of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares of the company's stock, valued at approximately $14,973,126.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Don W. Kassing sold 778 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $234.72, for a total transaction of $182,612.16. Following the sale, the director now directly owns 1,345 shares in the company, valued at approximately $315,698.40. The disclosure for this sale can be found here. Insiders have sold a total of 8,878 shares of company stock valued at $2,201,720 in the last 90 days. Insiders own 5.30% of the company's stock.

Institutional Trading of Penumbra

Large investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in Penumbra by 171.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company's stock valued at $27,000 after acquiring an additional 67 shares during the period. Captrust Financial Advisors lifted its stake in Penumbra by 44.1% during the 2nd quarter. Captrust Financial Advisors now owns 219 shares of the company's stock valued at $27,000 after acquiring an additional 67 shares during the period. Altshuler Shaham Ltd acquired a new stake in Penumbra during the 4th quarter valued at approximately $27,000. Pinebridge Investments L.P. acquired a new stake in Penumbra during the 2nd quarter valued at approximately $30,000. Finally, RiverPark Advisors LLC acquired a new stake in Penumbra during the 3rd quarter valued at approximately $42,000. Hedge funds and other 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.