Penumbra (NYSE:PEN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Penumbra's stock rating has been upgraded by Wall Street Zen from "hold" to "buy," indicating increasing analyst confidence in the company's future performance.
• The company's recent quarterly earnings showed a 13.4% increase in revenue year-over-year, with EPS of $0.86 surpassing analyst estimates of $0.81.
• Despite the positive outlook, several analysts have varying price targets for Penumbra, with the consensus target currently set at $300.47.

Penumbra (NYSE:PEN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Several other research analysts also recently commented on PEN. Citigroup decreased their price target on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Robert W. Baird upped their price objective on shares of Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. UBS Group set a $335.00 target price on shares of Penumbra and gave the company a "buy" rating in a report on Wednesday, July 30th. William Blair raised shares of Penumbra to a "strong-buy" rating in a research note on Friday, July 18th. Finally, Royal Bank Of Canada cut their price target on shares of Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $302.93.

Penumbra Price Performance

NYSE PEN traded up $5.79 during trading hours on Friday, reaching $275.50. 161,018 shares of the stock traded hands, compared to its average volume of 491,257. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The stock has a 50 day simple moving average of $248.30 and a two-hundred day simple moving average of $265.47. Penumbra has a 1 year low of $184.80 and a 1 year high of $310.00. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 73.12, a price-to-earnings-growth ratio of 2.45 and a beta of 0.45.

Penumbra (NYSE:PEN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. Penumbra had a return on equity of 11.55% and a net margin of 11.54%.The company's revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, analysts predict that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Activity at Penumbra

In other news, CEO Adam Elsesser sold 15,900 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $254.53, for a total transaction of $4,047,027.00. Following the completion of the sale, the chief executive officer directly owned 170,280 shares in the company, valued at approximately $43,341,368.40. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Maggie Yuen sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $250.00, for a total value of $500,000.00. Following the completion of the sale, the chief financial officer directly owned 12,943 shares in the company, valued at $3,235,750. The trade was a 13.38% decrease in their ownership of the stock. 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 ninety days. Insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PEN. The Manufacturers Life Insurance Company grew its position in shares of Penumbra by 1.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 104,193 shares of the company's stock worth $24,744,000 after buying an additional 1,486 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Penumbra by 20.8% during the fourth quarter. Northern Trust Corp now owns 318,230 shares of the company's stock valued at $75,573,000 after acquiring an additional 54,890 shares in the last quarter. AQR Capital Management LLC lifted its stake in Penumbra by 19.6% in the fourth quarter. AQR Capital Management LLC now owns 159,435 shares of the company's stock worth $37,863,000 after acquiring an additional 26,144 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Penumbra by 41.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,760 shares of the company's stock valued at $418,000 after acquiring an additional 519 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Penumbra by 29.9% in the fourth quarter. Algert Global LLC now owns 18,974 shares of the company's stock valued at $4,506,000 after acquiring an additional 4,362 shares in the last quarter. Institutional investors own 88.88% of the company's stock.

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.