Penumbra, Inc. (NYSE:PEN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Brokerages have given Penumbra, Inc. an average rating of "Moderate Buy", with three hold recommendations, thirteen buy recommendations, and one strong buy.
• Penumbra's stock price opened at $253.64 with a market cap of $9.89 billion, showing a year-over-year revenue increase of 13.4%.
• Insiders have sold a total of 96,223 shares worth approximately $23.89 million in the last 90 days, with institutional investors owning about 88.88% of the company’s stock.

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $302.9333.

Several equities analysts recently commented on PEN shares. Evercore ISI began coverage on Penumbra in a research report on Tuesday, September 2nd. They set an "outperform" rating and a $300.00 target price for the company. Wells Fargo & Company cut their price objective on Penumbra from $315.00 to $290.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Morgan Stanley lifted their price objective on Penumbra from $260.00 to $266.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Wall Street Zen downgraded Penumbra from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Robert W. Baird lifted their price objective on Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th.

Penumbra Price Performance

Penumbra stock opened at $253.64 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The company has a market capitalization of $9.89 billion, a PE ratio of 67.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.45. Penumbra has a one year low of $186.96 and a one year high of $310.00. The business has a 50 day simple moving average of $255.51 and a 200 day simple moving average of $263.57.

Penumbra (NYSE:PEN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.Penumbra's revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Penumbra will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Penumbra news, CFO Maggie Yuen sold 2,000 shares of Penumbra stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total value of $500,000.00. Following the completion of the transaction, the chief financial officer owned 12,943 shares in the company, valued at approximately $3,235,750. The trade was a 13.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total value of $151,620.00. Following the completion of the transaction, the executive vice president owned 66,057 shares of the company's stock, valued at approximately $16,692,603.90. The trade was a 0.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,223 shares of company stock worth $23,892,820. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently made changes to their positions in the company. Synergy Investment Management LLC bought a new stake in shares of Penumbra during the first quarter worth $27,000. First Horizon Advisors Inc. raised its position in shares of Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after acquiring an additional 85 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Penumbra during the second quarter worth $30,000. Parkside Financial Bank & Trust raised its position in shares of Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company's stock worth $41,000 after acquiring an additional 66 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Penumbra during the second quarter worth $64,000. 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.

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