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

Key Points

• Penumra, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with three holds, fourteen buys, and one strong buy out of eighteen ratings firms.
• The company reported a quarterly revenue of $339.46 million and earnings per share of $0.86, exceeding expectations and showing a 13.4% increase compared to the previous year.
• Insiders have sold a total of 64,460 shares of company stock in recent months, indicating significant insider activity amidst overall ownership of 4.20% by insiders.

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $302.8125.

Several equities analysts have weighed in on PEN shares. Wells Fargo & Company set a $290.00 price objective on shares of Penumbra in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Penumbra in a research report on Wednesday, October 8th. William Blair raised Penumbra to a "strong-buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada decreased their price objective on Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Finally, Truist Financial lowered their target price on Penumbra from $310.00 to $300.00 and set a "buy" rating on the stock in a research note on Wednesday, October 15th.

Penumbra Price Performance

PEN stock opened at $254.13 on Friday. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. Penumbra has a one year low of $203.72 and a one year high of $310.00. The firm has a market capitalization of $9.91 billion, a PE ratio of 67.59, a P/E/G ratio of 2.27 and a beta of 0.41. The firm has a 50-day moving average of $260.55 and a two-hundred day moving average of $260.99.

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

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 16,030 shares of Penumbra stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $238.20, for a total transaction of $3,818,346.00. Following the completion of the sale, the chief executive officer owned 158,204 shares of the company's stock, valued at $37,684,192.80. This trade represents a 9.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief financial officer directly owned 12,943 shares in the company, valued at $3,235,750. This trade represents a 13.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,460 shares of company stock valued at $16,322,614 in the last three months. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Penumbra

A number of institutional investors have recently bought and sold shares of the company. Concurrent Investment Advisors LLC acquired a new position in Penumbra in the 1st quarter worth about $259,000. GAMMA Investing LLC lifted its holdings in shares of Penumbra by 59.0% during the 1st quarter. GAMMA Investing LLC now owns 709 shares of the company's stock valued at $190,000 after buying an additional 263 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Penumbra in the 1st quarter valued at approximately $732,000. Belpointe Asset Management LLC acquired a new position in Penumbra in the first quarter worth approximately $732,000. Finally, Sheets Smith Investment Management acquired a new position in Penumbra in the first quarter worth approximately $773,000. Institutional investors and hedge funds 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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