Penumbra (NYSE:PEN) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of Penumbra (NYSE:PEN) from a hold rating to a buy rating in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage currently has $326.00 target price on the stock.

Other analysts also recently issued reports about the stock. Robert W. Baird increased their price target on shares of Penumbra from $283.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Evercore ISI dropped their price objective on shares of Penumbra from $300.00 to $285.00 and set an “outperform” rating for the company in a research note on Tuesday. William Blair upgraded shares of Penumbra to a “strong-buy” rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company set a $290.00 price objective on shares of Penumbra in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $303.44.

Penumbra Price Performance

Shares of Penumbra stock opened at $260.96 on Wednesday. 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 fifty-two week low of $193.49 and a fifty-two week high of $310.00. The firm has a fifty day moving average price of $259.23 and a two-hundred day moving average price of $262.09. The company has a market cap of $10.18 billion, a PE ratio of 69.40, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share 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 firm had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. During the same period in the prior year, the firm earned $0.64 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Penumbra has set its FY 2025 guidance at EPS. Analysts expect that Penumbra will post 3.67 EPS for the current year.

Insider Transactions at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $249.70, for a total value of $149,820.00. Following the completion of the sale, the executive vice president owned 64,257 shares in the company, valued at approximately $16,044,972.90. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Harpreet Grewal sold 186 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $248.61, for a total transaction of $46,241.46. Following the completion of the transaction, the director directly owned 8,702 shares in the company, valued at $2,163,404.22. This trade represents a 2.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,610 shares of company stock worth $20,088,148. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PEN. GAMMA Investing LLC increased its holdings in Penumbra by 7.3% during 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. Fifth Third Bancorp increased its holdings in Penumbra by 16.4% during 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. Parkside Financial Bank & Trust increased its holdings in Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after buying an additional 66 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Penumbra by 2.9% during the second quarter. Quadrant Capital Group LLC now owns 2,872 shares of the company’s stock worth $737,000 after buying an additional 82 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Penumbra by 404.8% during the first 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 last quarter. 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.