Penumbra (NYSE:PEN) Shares Gap Up - What's Next?

Key Points

• Penumbra's stock price gapped up from $249.04 to $259.03 prior to Wednesday's trading, closing at $258.56 after 19,291 shares were traded.
• Analysts have varied price targets for Penumbra, with expectations ranging from $285.00 to $350.00, and an overall average target of $303.44.
• Despite strong quarterly earnings and revenue growth of 13.4% year-over-year to $339.46 million, insider selling has occurred, with significant shares sold by directors and executives in recent transactions.

Penumbra, Inc. (NYSE:PEN - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $249.04, but opened at $259.03. Penumbra shares last traded at $258.56, with a volume of 19,291 shares.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore ISI reduced their price objective on Penumbra from $300.00 to $285.00 and set an "outperform" rating on the stock in a research note on Tuesday. Truist Financial set a $310.00 price objective on Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Canaccord Genuity Group set a $350.00 price objective on Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. William Blair raised Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Penumbra has an average rating of "Moderate Buy" and an average target price of $303.44.

Penumbra Trading Up 3.5%

The stock has a fifty day moving average of $258.59 and a 200-day moving average of $262.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. The company has a market cap of $10.05 billion, a PE ratio of 68.56, a PEG ratio of 2.30 and a beta of 0.41.

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

Insider Buying and Selling at Penumbra

In other Penumbra news, Director Thomas Wilder sold 186 shares of Penumbra stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $253.93, for a total transaction of $47,230.98. Following the completion of the sale, the director directly owned 186 shares of the company's stock, valued at $47,230.98. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $249.70, for a total value of $149,820.00. Following the sale, the executive vice president directly owned 64,257 shares of the company's stock, valued at approximately $16,044,972.90. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,610 shares of company stock worth $20,088,148 over the last quarter. Insiders own 5.00% of the company's stock.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently bought and sold shares of the company. Synergy Investment Management LLC bought a new stake in Penumbra during the 1st quarter valued at $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 worth $28,000 after acquiring an additional 85 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Penumbra in the 2nd quarter worth $30,000. Parkside Financial Bank & Trust raised its position in shares of 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 acquiring an additional 66 shares in the last quarter. Finally, AlphaQuest LLC bought a new position in shares of Penumbra in the 1st quarter worth $66,000. 88.88% of the stock is 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.

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