Penumbra, Inc. (NYSE:PEN) Receives $359.25 Consensus Price Target from Analysts

Shares of Penumbra, Inc. (NYSE:PEN) have received a consensus rating of “Hold” from the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. Fourteen investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $361.6875.

Several equities analysts have issued reports on the company. Canaccord Genuity Group lowered Penumbra from a “buy” rating to a “hold” rating and boosted their price target for the company from $359.00 to $374.00 in a research note on Tuesday, January 20th. Citigroup downgraded shares of Penumbra from a “buy” rating to a “neutral” rating and boosted their target price for the company from $350.00 to $374.00 in a research report on Thursday, January 15th. JPMorgan Chase & Co. upgraded shares of Penumbra from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $275.00 to $370.00 in a report on Thursday, December 18th. Wells Fargo & Company reiterated an “equal weight” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, January 15th. Finally, Royal Bank Of Canada cut shares of Penumbra from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $355.00 to $374.00 in a research report on Tuesday, January 20th.

Penumbra Stock Performance

Shares of PEN opened at $339.57 on Thursday. The company has a current ratio of 6.64, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $337.02 and its two-hundred day simple moving average is $293.94. Penumbra has a 12 month low of $221.26 and a 12 month high of $362.41. The stock has a market capitalization of $13.32 billion, a P/E ratio of 75.13, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.06. Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The company had revenue of $385.39 million for the quarter, compared to the consensus estimate of $367.18 million. During the same period in the previous year, the business earned $0.97 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. As a group, analysts predict that Penumbra will post 3.67 EPS for the current year.

Insider Transactions at Penumbra

In related news, CFO Maggie Yuen sold 2,432 shares of Penumbra stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total value of $832,473.60. Following the completion of the sale, the chief financial officer owned 18,353 shares of the company’s stock, valued at approximately $6,282,231.90. This trade represents a 11.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the sale, the director owned 8,230 shares of the company’s stock, valued at $2,573,027.20. This trade represents a 2.21% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 18,104 shares of company stock valued at $5,670,758. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PEN. Farther Finance Advisors LLC increased its position in shares of Penumbra by 27.1% during the fourth quarter. Farther Finance Advisors LLC now owns 178 shares of the company’s stock worth $55,000 after acquiring an additional 38 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in Penumbra by 2.3% during the 4th quarter. Swiss Life Asset Management Ltd now owns 1,728 shares of the company’s stock worth $537,000 after purchasing an additional 39 shares in the last quarter. Abbot Financial Management Inc. increased its holdings in Penumbra by 1.3% during the 3rd quarter. Abbot Financial Management Inc. now owns 3,254 shares of the company’s stock worth $824,000 after purchasing an additional 42 shares in the last quarter. Glenview Trust Co raised its stake in shares of Penumbra by 5.0% in the third quarter. Glenview Trust Co now owns 904 shares of the company’s stock worth $229,000 after purchasing an additional 43 shares during the last quarter. Finally, Keybank National Association OH lifted its holdings in shares of Penumbra by 1.2% in the fourth quarter. Keybank National Association OH now owns 3,705 shares of the company’s stock valued at $1,152,000 after purchasing an additional 43 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.