Penumbra, Inc. (NYSE:PEN) Receives $300.47 Average Price Target from Analysts

Key Points

• Penumbra, Inc. has received an average rating of "Moderate Buy" from eighteen brokerages, with a 1-year price target averaging $300.47.
• CEO Adam Elsesser sold 16,600 shares of Penumbra stock, resulting in a 16.08% decrease in his ownership, while insiders sold a total of 115,115 shares in the past three months.
• Pennumbra reported a 13.4% increase in revenue year-over-year for the last quarter, achieving $339.46 million and exceeding analysts' expectations.

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have earned an average rating of "Moderate Buy" from the eighteen brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $300.4667.

PEN has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Citigroup cut their price objective on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. UBS Group set a $335.00 price objective on shares of Penumbra and gave the stock a "buy" rating in a report on Wednesday, July 30th. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a report on Friday, July 18th. Finally, Robert W. Baird upped their target price on shares of Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th.

Insider Buying and Selling at Penumbra

In other news, Director Thomas Wilder sold 372 shares of Penumbra stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $240.16, for a total transaction of $89,339.52. Following the completion of the sale, the director owned 372 shares in the company, valued at $89,339.52. The trade was a 50.00% decrease in their position. 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 Penumbra stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $238.94, for a total value of $143,364.00. Following the transaction, the executive vice president owned 65,457 shares in the company, valued at approximately $15,640,295.58. This represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,487 shares of company stock worth $24,461,787. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Penumbra

Institutional investors have recently made changes to their positions in the business. Synergy Investment Management LLC bought a new stake in shares of Penumbra in the first quarter worth $27,000. First Horizon Advisors Inc. raised its position in 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 in the last quarter. Parkside Financial Bank & Trust raised its position in 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 in the last quarter. AlphaQuest LLC bought a new stake in Penumbra during the first quarter worth $66,000. Finally, EverSource Wealth Advisors LLC raised its position in Penumbra by 209.1% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the company's stock worth $70,000 after acquiring an additional 184 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

Penumbra Stock Down 1.7%

Penumbra stock traded down $4.39 during trading on Friday, reaching $252.99. 91,485 shares of the company's stock were exchanged, compared to its average volume of 497,376. The company's 50-day moving average is $246.26 and its two-hundred day moving average is $265.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. Penumbra has a 52-week low of $184.19 and a 52-week high of $310.00. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 67.29, a PEG ratio of 2.24 and a beta of 0.40.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.05. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm had revenue of $339.46 million during the quarter, compared to analysts' expectations of $327.37 million. During the same period in the prior year, the company earned $0.64 EPS. The firm's revenue was up 13.4% on a year-over-year basis. On average, analysts predict that Penumbra will post 3.67 earnings per share for the current year.

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.