Penumbra (NYSE:PEN) Given a $285.00 Price Target by Robert W. Baird Analysts

Key Points

• Robert W. Baird has raised its price target for Penumbra (NYSE:PEN) from $283 to $285, indicating a potential upside of 10.86% from the current price.
• Penumbra recently reported an earnings per share (EPS) of $0.86, exceeding analysts' expectations of $0.81, with a revenue of $339.46 million, up 13.4% year-over-year.
• Multiple analysts, including Truist Financial and UBS Group, also set their price targets for Penumbra at $330, contributing to an overall average price target of $301.40 and a consensus rating of "Buy."

Penumbra (NYSE:PEN - Get Free Report) has been given a $285.00 price target by investment analysts at Robert W. Baird in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective would indicate a potential upside of 17.53% from the company's current price.

Several other brokerages have also commented on PEN. Wall Street Zen upgraded shares of Penumbra from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Truist Financial upped their price objective on shares of Penumbra from $315.00 to $330.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Citigroup decreased their price objective on shares of Penumbra from $320.00 to $285.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Canaccord Genuity Group set a $350.00 price objective on shares of Penumbra and gave the stock a "buy" rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Penumbra from $305.00 to $315.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $300.47.

Penumbra Price Performance

Shares of Penumbra stock opened at $242.50 on Wednesday. Penumbra has a 52-week low of $163.63 and a 52-week high of $310.00. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 64.49, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The company has a fifty day moving average of $249.42 and a 200-day moving average of $267.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.68 and a current ratio of 6.75.

Penumbra (NYSE:PEN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $327.37 million. During the same period in the prior year, the business posted $0.64 EPS. The firm's revenue was up 13.4% compared to the same quarter last year. Equities research analysts expect that Penumbra will post 3.67 EPS for the current year.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $252.70, for a total value of $151,620.00. Following the transaction, the executive vice president owned 66,057 shares of the company's stock, valued at approximately $16,692,603.90. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bridget O'rourke sold 100 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total transaction of $28,615.00. Following the completion of the transaction, the director directly owned 5,423 shares in the company, valued at approximately $1,551,791.45. The trade was a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,735 shares of company stock valued at $30,476,510 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Penumbra

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC boosted its holdings in shares of Penumbra by 6.6% in the fourth quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock worth $150,000 after buying an additional 39 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Penumbra by 7.3% in the second quarter. GAMMA Investing LLC now owns 761 shares of the company's stock worth $195,000 after buying an additional 52 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Penumbra by 1.6% in the fourth quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company's stock worth $791,000 after buying an additional 53 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Penumbra by 16.4% in the first quarter. Fifth Third Bancorp now owns 404 shares of the company's stock worth $108,000 after buying an additional 57 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in 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 acquiring an additional 85 shares during the period. 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.