Penumbra (NYSE:PEN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Penumbra (NYSE:PEN - Free Report) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

A number of other analysts also recently issued reports on PEN. Truist Financial lifted their price target on Penumbra from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Needham & Company LLC reissued a "hold" rating on shares of Penumbra in a research report on Wednesday, February 19th. Piper Sandler reaffirmed an "overweight" rating and set a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research report on Wednesday, February 19th. Stifel Nicolaus set a $318.00 price objective on Penumbra and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, BTIG Research reiterated a "buy" rating on shares of Penumbra in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $302.40.

Penumbra Trading Up 3.2%

PEN traded up $8.31 during trading on Friday, reaching $264.81. 203,003 shares of the stock traded hands, compared to its average volume of 448,468. The stock has a market capitalization of $10.26 billion, a PE ratio of 778.85, a P/E/G ratio of 2.83 and a beta of 0.49. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The stock's 50-day moving average is $275.71 and its 200 day moving average is $267.43. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.17. The company had revenue of $324.14 million for the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm's revenue was up 16.3% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Equities analysts anticipate that Penumbra will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other Penumbra news, Director Bridget O'rourke sold 100 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $286.15, for a total value of $28,615.00. Following the completion of the sale, the director now directly owns 5,423 shares in the company, valued at approximately $1,551,791.45. This represents a 1.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 16,600 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total transaction of $4,585,086.00. Following the completion of the sale, the chief executive officer now directly owns 27,752 shares of the company's stock, valued at $7,665,379.92. The trade was a 37.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,755 shares of company stock valued at $40,395,871 over the last 90 days. Insiders own 4.20% of the company's stock.

Institutional Trading of Penumbra

Several large investors have recently bought and sold shares of PEN. Quadrant Capital Group LLC raised its stake in Penumbra by 6.6% in the 4th quarter. Quadrant Capital Group LLC now owns 632 shares of the company's stock worth $150,000 after acquiring an additional 39 shares during the last quarter. Baker Avenue Asset Management LP lifted its holdings in Penumbra by 1.6% in the fourth quarter. Baker Avenue Asset Management LP now owns 3,330 shares of the company's stock valued at $791,000 after acquiring an additional 53 shares during the period. Fifth Third Bancorp boosted its position in Penumbra by 16.4% in the 1st quarter. Fifth Third Bancorp now owns 404 shares of the company's stock worth $108,000 after purchasing an additional 57 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Penumbra by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,183 shares of the company's stock worth $281,000 after purchasing an additional 61 shares during the period. Finally, Corient Private Wealth LLC grew its stake in shares of Penumbra by 3.7% during the 4th quarter. Corient Private Wealth LLC now owns 1,695 shares of the company's stock worth $403,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 88.88% of the company's stock.

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.