Penumbra (NYSE:PEN) Upgraded at Wall Street Zen

Key Points

• Penumbra has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive expectations for the stock's performance.
• Recent research reports have set target prices for Penumbra, with Morgan Stanley increasing their target from $260 to $266, and Canaccord Genuity setting a target of $350, reflecting strong analyst interest.
• PEN reported $0.86 earnings per share for the last quarter, exceeding estimates and representing a 13.4% increase in revenue compared to the previous year.

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 research report issued on Saturday.

PEN has been the topic of several other reports. Morgan Stanley upped their target price on shares of Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Canaccord Genuity Group set a $350.00 target price on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday, July 30th. William Blair upgraded shares of Penumbra to a "strong-buy" rating in a research report on Friday, July 18th. Needham & Company LLC set a $326.00 target price on shares of Penumbra and gave the stock a "buy" rating in a research report on Wednesday. Finally, Robert W. Baird increased their price target on shares of Penumbra from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $303.44.

Penumbra Trading Down 0.2%

Shares of PEN opened at $260.96 on Friday. 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's 50-day moving average is $259.23 and its two-hundred day moving average is $262.09. Penumbra has a twelve month low of $193.49 and a twelve month high of $310.00. The firm has a market capitalization of $10.18 billion, a P/E ratio of 69.40, a PEG ratio of 2.36 and a beta of 0.41.

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, topping the consensus estimate of $0.81 by $0.05. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The company had revenue of $339.46 million for the quarter, compared to analyst estimates of $327.37 million. During the same period in the prior year, the business posted $0.64 earnings per share. The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. On average, research analysts predict that Penumbra will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In related news, Director Arani Bose sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the transaction, the director owned 558 shares of the company's stock, valued at approximately $139,862.70. This represents a 95.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $270.58, for a total transaction of $162,348.00. Following the transaction, the executive vice president directly owned 64,857 shares in the company, valued at $17,549,007.06. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,610 shares of company stock valued at $20,088,148. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Penumbra

Institutional investors and hedge funds have recently modified their holdings of the company. Synergy Investment Management LLC purchased a new position in shares of Penumbra during the first quarter valued at approximately $27,000. First Horizon Advisors Inc. lifted its stake in shares of Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company's stock valued at $28,000 after buying an additional 85 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Penumbra during the second quarter worth approximately $30,000. Parkside Financial Bank & Trust raised its stake in Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company's stock worth $41,000 after purchasing an additional 66 shares during the period. Finally, AlphaQuest LLC purchased a new position in Penumbra during the first quarter worth approximately $66,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.