Penumbra's (PEN) Hold (C) Rating Reiterated at Weiss Ratings

Key Points

• Penumbra's stock maintains a "hold (c)" rating from Weiss Ratings, with a consensus target price of $303.44 and a rating of "Moderate Buy" from analysts.
• Recent earnings results showed Penumbra posted a 13.4% revenue increase year-over-year, reporting $339.46 million in revenue and $0.86 EPS, surpassing expectations.
• Significant insider activity included the sale of 12,000 shares by Director Arani Bose and 600 shares by EVP Johanna Roberts, indicating notable shifts in insider ownership.

Penumbra (NYSE:PEN - Get Free Report)'s stock had its "hold (c)" rating reiterated by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada decreased their price target on Penumbra from $330.00 to $325.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Morgan Stanley increased their price target on Penumbra from $260.00 to $266.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. UBS Group set a $335.00 price target on Penumbra and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Citigroup decreased their price target on Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Finally, Robert W. Baird increased their price target on Penumbra from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $303.44.

Penumbra Price Performance

Shares of PEN opened at $258.92 on Wednesday. The company has a market cap of $10.10 billion, a P/E ratio of 68.86, a PEG ratio of 2.25 and a beta of 0.41. The stock has a fifty day moving average price of $258.68 and a 200 day moving average price of $262.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. Penumbra has a 12 month low of $192.54 and a 12 month high of $310.00.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the business posted $0.64 earnings per share. The company'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 forecast that Penumbra will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Arani Bose sold 12,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $250.65, for a total transaction of $3,007,800.00. Following the completion of the sale, the director directly owned 558 shares of the company's stock, valued at $139,862.70. This represents a 95.56% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,610 shares of company stock valued at $20,088,148. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Penumbra

Hedge funds have recently modified their holdings of the stock. Synergy Investment Management LLC purchased a new stake in shares of Penumbra during the first quarter valued at $27,000. First Horizon Advisors Inc. lifted its holdings 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 purchasing an additional 85 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Penumbra during the second quarter valued at $30,000. Parkside Financial Bank & Trust lifted its holdings in shares of Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company's stock valued at $41,000 after purchasing an additional 66 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Penumbra during the second quarter valued at $64,000. 88.88% of the stock is 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.

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