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

Penumbra, Inc. (NYSE:PEN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seventeen research firms that are presently covering the stock, MarketBeat 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 1 year target price among analysts that have updated their coverage on the stock in the last year is $302.40.

A number of analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Wall Street Zen raised shares of Penumbra from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Royal Bank Of Canada upped their target price on shares of Penumbra from $315.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. UBS Group reiterated a "buy" rating and issued a $330.00 price target (up from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Finally, Robert W. Baird upped their price objective on Penumbra from $316.00 to $325.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th.

Insider Activity at Penumbra

In other news, CEO Adam Elsesser sold 15,910 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $253.67, for a total value of $4,035,889.70. Following the transaction, the chief executive officer now owns 110,355 shares in the company, valued at $27,993,752.85. This represents a 12.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $258.17, for a total value of $154,902.00. Following the completion of the transaction, the executive vice president now owns 64,714 shares in the company, valued at $16,707,213.38. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,205 shares of company stock valued at $32,418,534 over the last ninety days. Insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Penumbra

Hedge funds and other institutional investors have recently made changes to their positions in the business. Synergy Investment Management LLC bought a new position in shares of Penumbra in the first quarter valued at about $27,000. First Horizon Advisors Inc. raised its position in shares of Penumbra by 404.8% in the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after acquiring an additional 85 shares during the period. Hurley Capital LLC bought a new position in shares of Penumbra during the fourth quarter worth $56,000. Huntington National Bank increased its position in shares of Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after buying an additional 154 shares in the last quarter. Finally, AlphaQuest LLC bought a new position in Penumbra during the first quarter worth about $66,000. 88.88% of the stock is owned by institutional investors.

Penumbra Price Performance

Shares of NYSE:PEN traded up $1.21 on Friday, hitting $255.67. The company had a trading volume of 421,151 shares, compared to its average volume of 511,267. The company has a market cap of $9.90 billion, a PE ratio of 241.19, a PEG ratio of 2.29 and a beta of 0.50. The business has a 50 day moving average of $274.15 and a 200 day moving average of $267.98. Penumbra has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a current ratio of 6.30, a quick ratio of 3.68 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The firm had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. As a group, equities analysts anticipate that Penumbra will post 3.67 earnings per share for the current fiscal year.

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.