Penumbra, Inc. (NYSE:PEN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $304.45.

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $289.00 price objective on shares of Penumbra in a research report on Friday, February 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $284.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Piper Sandler reiterated an “overweight” rating and issued a $290.00 price target on shares of Penumbra in a research report on Wednesday, April 3rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. Finally, Truist Financial reduced their price target on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd.

Penumbra Trading Down 0.5 %

NYSE PEN opened at $204.41 on Monday. The company has a quick ratio of 3.49, a current ratio of 6.06 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $7.92 billion, a PE ratio of 88.49, a P/E/G ratio of 2.02 and a beta of 0.51. The stock’s 50 day moving average is $228.07 and its 200 day moving average is $231.86. Penumbra has a twelve month low of $180.93 and a twelve month high of $348.67.

Penumbra (NYSE:PEN) last posted its earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $284.68 million during the quarter, compared to analyst estimates of $286.62 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. Research analysts forecast that Penumbra will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $237.68, for a total value of $142,608.00. Following the sale, the executive vice president now owns 62,997 shares in the company, valued at $14,973,126.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Don W. Kassing sold 170 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $223.18, for a total value of $37,940.60. Following the completion of the sale, the director now owns 1,175 shares in the company, valued at $262,236.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $237.68, for a total value of $142,608.00. Following the transaction, the executive vice president now owns 62,997 shares in the company, valued at $14,973,126.96. The disclosure for this sale can be found here. Insiders sold a total of 9,648 shares of company stock worth $2,369,903 in the last quarter. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Penumbra

Several hedge funds have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Penumbra by 171.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. Mather Group LLC. purchased a new position in Penumbra during the 1st quarter valued at about $29,000. RiverPark Advisors LLC bought a new stake in shares of Penumbra in the 3rd quarter valued at about $42,000. Signaturefd LLC lifted its position in shares of Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after purchasing an additional 46 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Penumbra during the fourth quarter valued at approximately $71,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

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.