Needham & Company LLC Reiterates “Hold” Rating for Penumbra (NYSE:PEN)

Penumbra (NYSE:PEN)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports.

A number of other equities analysts also recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $290.00 price target on shares of Penumbra in a research note on Wednesday, April 3rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research report on Friday, January 12th. Truist Financial lowered their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $289.00 price objective on shares of Penumbra in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. downgraded shares of Penumbra from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $284.00 to $250.00 in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $304.45.

Penumbra Trading Down 0.8 %

Shares of Penumbra stock opened at $210.00 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06. Penumbra has a 52 week low of $180.93 and a 52 week high of $348.67. The stock has a 50 day moving average price of $221.64 and a two-hundred day moving average price of $232.02. The stock has a market capitalization of $8.14 billion, a PE ratio of 90.91, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The business had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. During the same quarter last year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that Penumbra will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $237.68, for a total value of $142,608.00. Following the transaction, the executive vice president now directly owns 62,997 shares in the company, valued at $14,973,126.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Penumbra news, Director Arani Bose sold 7,500 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the completion of the transaction, the director now owns 164,294 shares in the company, valued at $41,106,358.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $237.68, for a total transaction of $142,608.00. Following the completion of the transaction, the executive vice president now owns 62,997 shares of the company’s stock, valued at approximately $14,973,126.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,648 shares of company stock valued at $2,369,903. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its position in shares of Penumbra by 171.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after buying an additional 67 shares during the period. Mather Group LLC. purchased a new stake in Penumbra in the 1st quarter worth approximately $29,000. RiverPark Advisors LLC bought a new position in Penumbra in the 3rd quarter valued at $42,000. Signaturefd LLC boosted its stake in Penumbra by 27.2% during the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after buying an additional 46 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Penumbra in the fourth quarter worth approximately $71,000. 88.88% of the stock is owned by 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.