William Blair Upgrades Penumbra (NYSE:PEN) to "Strong-Buy"

Penumbra (NYSE:PEN - Get Free Report) was upgraded by equities researchers at William Blair to a "strong-buy" rating in a note issued to investors on Friday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen raised Penumbra from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Stifel Nicolaus set a $318.00 price target on Penumbra and gave the company a "buy" rating in a research note on Thursday, April 24th. Truist Financial lifted their price target on Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. UBS Group reaffirmed a "buy" rating and set a $330.00 target price (up previously from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada boosted their target price on shares of Penumbra from $315.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $305.07.

Penumbra Price Performance

Shares of PEN remained flat at $230.10 during trading hours on Friday. The company had a trading volume of 423,932 shares, compared to its average volume of 455,802. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.30 and a quick ratio of 3.68. The company has a market cap of $8.91 billion, a PE ratio of 217.08, a PEG ratio of 2.05 and a beta of 0.47. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The company's fifty day moving average price is $258.27 and its two-hundred day moving average price is $268.18.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The business had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. Penumbra had a return on equity of 11.14% and a net margin of 3.41%. The business's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. Research analysts predict that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Penumbra news, CEO Adam Elsesser sold 15,985 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $243.75, for a total value of $3,896,343.75. Following the transaction, the chief executive officer directly owned 134,432 shares in the company, valued at $32,767,800. The trade was a 10.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 approximately $16,692,603.90. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,185 shares of company stock valued at $31,073,762 in the last ninety days. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Penumbra

Several hedge funds have recently added to or reduced their stakes in PEN. Synergy Investment Management LLC bought a new position in Penumbra in the 1st quarter valued at about $27,000. First Horizon Advisors Inc. grew its position in shares of Penumbra by 404.8% during 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. Hurley Capital LLC bought a new position in shares of Penumbra during the 4th quarter valued at about $56,000. Huntington National Bank lifted its stake in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company's stock valued at $63,000 after acquiring an additional 154 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Penumbra during the 1st quarter worth approximately $66,000. 88.88% of the stock is currently owned by hedge funds and other 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.