Penumbra (NYSE:PEN) Hits New 12-Month High – Should You Buy?

Penumbra, Inc. (NYSE:PEN) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $356.65 and last traded at $355.8310, with a volume of 3182840 shares trading hands. The stock had previously closed at $350.78.

Analysts Set New Price Targets

A number of analysts recently weighed in on PEN shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $374.00 price objective on shares of Penumbra in a report on Thursday, January 15th. Citigroup lowered shares of Penumbra from a “buy” rating to a “neutral” rating and raised their price target for the company from $350.00 to $374.00 in a research note on Thursday, January 15th. BTIG Research downgraded Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 price objective for the company. in a research report on Thursday, January 15th. Baird R W lowered Penumbra from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, William Blair cut Penumbra from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 15th. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $358.00.

Penumbra Stock Up 1.4%

The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 85.13, a price-to-earnings-growth ratio of 2.14 and a beta of 0.71. The stock’s 50 day moving average is $306.67 and its 200 day moving average is $271.24. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The firm had revenue of $354.69 million during the quarter, compared to the consensus estimate of $340.77 million. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. Analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current year.

Insider Transactions at Penumbra

In other Penumbra news, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $310.72, for a total value of $57,793.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arani Bose sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $308.82, for a total transaction of $4,632,300.00. Following the completion of the sale, the director directly owned 258,462 shares of the company’s stock, valued at $79,818,234.84. The trade was a 5.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,144 shares of company stock valued at $10,260,127 in the last three months. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Penumbra by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock valued at $990,760,000 after acquiring an additional 185,306 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Penumbra by 2.6% during the second quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock worth $181,314,000 after purchasing an additional 17,772 shares during the period. Invesco Ltd. lifted its holdings in shares of Penumbra by 1,139.3% during the second quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after purchasing an additional 582,369 shares during the last quarter. Norges Bank acquired a new position in shares of Penumbra in the 2nd quarter valued at $114,014,000. Finally, Thrivent Financial for Lutherans increased its stake in Penumbra by 13.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 367,062 shares of the company’s stock worth $92,984,000 after purchasing an additional 44,185 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.