Equities research analysts at William Blair started coverage on shares of Penumbra (NYSE:PEN) in a report released on Tuesday, Briefing.com Automated Import reports. The brokerage set an “outperform” rating on the stock.

Several other equities analysts have also issued reports on PEN. Canaccord Genuity increased their target price on Penumbra from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, January 30th. ValuEngine raised Penumbra from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research lowered Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, HC Wainwright reissued a “buy” rating on shares of Penumbra in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $141.83.

Shares of Penumbra stock traded up $1.01 during trading hours on Tuesday, hitting $140.06. The company’s stock had a trading volume of 453 shares, compared to its average volume of 418,182. Penumbra has a twelve month low of $110.84 and a twelve month high of $167.35. The firm has a market cap of $4.83 billion, a PE ratio of 274.63, a price-to-earnings-growth ratio of 7.50 and a beta of 0.71. The company has a quick ratio of 4.34, a current ratio of 6.10 and a debt-to-equity ratio of 0.11.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.10. Penumbra had a return on equity of 5.84% and a net margin of 2.51%. The business had revenue of $128.44 million for the quarter, compared to analyst estimates of $123.09 million. During the same quarter in the prior year, the company posted $0.15 EPS. The company’s quarterly revenue was up 25.1% on a year-over-year basis. As a group, equities analysts expect that Penumbra will post 0.88 earnings per share for the current year.

In other Penumbra news, insider Arani Bose sold 55,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $160.07, for a total value of $8,803,850.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam Elsesser sold 8,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $139.86, for a total value of $1,118,880.00. Following the completion of the sale, the chief executive officer now directly owns 1,115,838 shares in the company, valued at approximately $156,061,102.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,175 shares of company stock worth $14,150,971. 9.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of PEN. Morgan Stanley raised its position in Penumbra by 199.4% in the 1st quarter. Morgan Stanley now owns 2,183,124 shares of the company’s stock valued at $320,941,000 after purchasing an additional 1,454,024 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Penumbra by 25.5% in the 1st quarter. Wellington Management Group LLP now owns 2,574,047 shares of the company’s stock valued at $378,411,000 after acquiring an additional 522,714 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Penumbra in the 4th quarter valued at about $46,280,000. FMR LLC increased its holdings in shares of Penumbra by 6.6% in the 4th quarter. FMR LLC now owns 5,024,916 shares of the company’s stock valued at $614,045,000 after acquiring an additional 310,996 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Penumbra in the 4th quarter valued at about $37,373,000. 81.50% of the stock is currently owned by institutional investors.

About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.

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Analyst Recommendations for Penumbra (NYSE:PEN)

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