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

Key Points

• Penumbra, Inc. has received an average rating of "Moderate Buy" from analysts, including thirteen buy recommendations and one strong buy from a total of seventeen analysts.
• Despite some target price adjustments from firms like Wells Fargo and Royal Bank of Canada, Penumbra's average 12-month target price stands at approximately $302.93.
• Insiders, including CEO Adam Elsesser, recently sold a significant number of shares, with total insider sales reaching $27.49 million over the last three months.

Penumbra, Inc. (NYSE:PEN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seventeen analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $302.9333.

Several equities research analysts recently weighed in on PEN shares. Truist Financial set a $310.00 target price on Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada dropped their target price on Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Wells Fargo & Company dropped their target price on Penumbra from $315.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Wall Street Zen upgraded Penumbra from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Finally, Evercore ISI started coverage on Penumbra in a report on Tuesday. They set an "outperform" rating and a $300.00 target price for the company.

Insider Activity at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,900 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $254.53, for a total value of $4,047,027.00. Following the completion of the sale, the chief executive officer owned 170,280 shares in the company, valued at approximately $43,341,368.40. This trade represents a 8.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 372 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $240.16, for a total value of $89,339.52. Following the completion of the sale, the director owned 372 shares of the company's stock, valued at approximately $89,339.52. This trade represents a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,487 shares of company stock worth $27,494,779 over the last three months. Corporate insiders own 5.00% of the company's stock.

Institutional Investors Weigh In On Penumbra

Several institutional investors and hedge funds have recently bought and sold shares of PEN. Synergy Investment Management LLC purchased a new stake in Penumbra in the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. lifted its holdings in Penumbra by 404.8% in the 1st quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock worth $28,000 after buying an additional 85 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in Penumbra in the 2nd quarter worth approximately $30,000. Parkside Financial Bank & Trust lifted its holdings in Penumbra by 70.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company's stock worth $41,000 after buying an additional 66 shares during the period. Finally, State of Wyoming purchased a new stake in Penumbra in the 2nd quarter worth approximately $64,000. Hedge funds and other institutional investors own 88.88% of the company's stock.

Penumbra Price Performance

Shares of Penumbra stock opened at $270.12 on Thursday. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $10.53 billion, a PE ratio of 71.84, a price-to-earnings-growth ratio of 2.45 and a beta of 0.45. The business's 50-day moving average price is $248.30 and its 200-day moving average price is $265.47. Penumbra has a 12 month low of $184.80 and a 12 month high of $310.00.

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

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