Penumbra, Inc. (NYSE:PEN) Receives $305.07 Average Price Target from Analysts

Penumbra, Inc. (NYSE:PEN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $305.07.

PEN has been the subject of several research reports. UBS Group reissued a "buy" rating and set a $330.00 price objective (up previously from $320.00) on shares of Penumbra in a research report on Thursday, April 24th. Robert W. Baird increased their target price on shares of Penumbra from $316.00 to $325.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Royal Bank Of Canada increased their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Citigroup reduced their target price on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Finally, BTIG Research reiterated a "buy" rating on shares of Penumbra in a research note on Thursday, April 24th.

Penumbra Stock Performance

Shares of PEN stock remained flat at $230.10 during trading hours on Wednesday. 423,932 shares of the stock traded hands, compared to its average volume of 454,709. The company has a 50 day moving average of $259.62 and a 200 day moving average of $268.02. The company has a quick ratio of 3.68, a current ratio of 6.30 and a debt-to-equity ratio of 0.02. Penumbra has a 52 week low of $148.00 and a 52 week high of $310.00. The stock has a market cap of $8.91 billion, a P/E ratio of 217.08, a PEG ratio of 2.05 and a beta of 0.47.

Penumbra (NYSE:PEN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.17. Penumbra had a net margin of 3.41% and a return on equity of 11.14%. The company had revenue of $324.14 million during the quarter, compared to the consensus estimate of $315.72 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm's revenue was up 16.3% compared to the same quarter last year. On average, research analysts forecast that Penumbra will post 3.67 EPS for the current year.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total transaction of $151,620.00. Following the sale, the executive vice president directly owned 66,057 shares in the company, valued at $16,692,603.90. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bridget O'rourke sold 100 shares of Penumbra stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total transaction of $28,615.00. Following the sale, the director owned 5,423 shares in the company, valued at approximately $1,551,791.45. This represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 114,185 shares of company stock worth $31,073,762 in the last ninety days. Company insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Penumbra

Hedge funds have recently added to or reduced their stakes in the business. Atria Investments Inc acquired a new position in shares of Penumbra in the 4th quarter worth approximately $221,000. Proficio Capital Partners LLC bought a new stake in shares of Penumbra in the 4th quarter valued at $3,553,000. Raymond James Financial Inc. bought a new stake in shares of Penumbra in the 4th quarter valued at $5,976,000. PNC Financial Services Group Inc. increased its stake in shares of Penumbra by 11.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,286 shares of the company's stock valued at $543,000 after acquiring an additional 228 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Penumbra by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 5,980 shares of the company's stock valued at $1,420,000 after acquiring an additional 188 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.