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

Shares of Penumbra, Inc. (NYSE:PEN - Get Free Report) have received an average recommendation of "Moderate Buy" from the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $302.40.

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Penumbra from $323.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. BTIG Research reissued a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Penumbra from $230.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Bank of America initiated coverage on shares of Penumbra in a research note on Friday, March 14th. They set a "buy" rating and a $320.00 price target on the stock. Finally, StockNews.com raised Penumbra from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th.

Penumbra Price Performance

PEN traded up $4.15 on Friday, hitting $295.97. 382,737 shares of the company's stock were exchanged, compared to its average volume of 427,632. The firm has a 50-day moving average price of $277.12 and a 200-day moving average price of $257.94. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 870.50, a P/E/G ratio of 2.83 and a beta of 0.56. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The company had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. As a group, equities analysts anticipate that Penumbra will post 3.67 earnings per share for the current year.

Insider Activity at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total value of $172,458.00. Following the transaction, the executive vice president now directly owns 66,539 shares of the company's stock, valued at $19,125,304.77. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Elsesser sold 61,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00. Following the sale, the chief executive officer now directly owns 16,376 shares of the company's stock, valued at $4,644,069.84. This represents a 79.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,446 shares of company stock worth $39,543,953 over the last three months. Company insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Penumbra

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its stake in Penumbra by 16.5% during the third quarter. Barclays PLC now owns 18,025 shares of the company's stock worth $3,502,000 after acquiring an additional 2,559 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Penumbra during the 3rd quarter worth about $6,995,000. Tidal Investments LLC grew its stake in shares of Penumbra by 2.7% in the 3rd quarter. Tidal Investments LLC now owns 5,008 shares of the company's stock valued at $973,000 after buying an additional 130 shares during the period. Franklin Resources Inc. increased its position in Penumbra by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 319,232 shares of the company's stock valued at $67,473,000 after buying an additional 24,091 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Penumbra by 160.8% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the company's stock worth $106,000 after buying an additional 275 shares during the period. 88.88% of the stock is currently owned by institutional investors.

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.