Penumbra (NYSE:PEN) Coverage Initiated by Analysts at UBS Group

UBS Group started coverage on shares of Penumbra (NYSE:PEN) in a research report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $305.00 price target on the stock. UBS Group’s price target would suggest a potential upside of 15.50% from the company’s current price.

PEN has been the topic of a number of other reports. BTIG Research upped their target price on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Citigroup upped their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Royal Bank of Canada boosted their price target on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Robert W. Baird raised their price objective on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Oppenheimer assumed coverage on shares of Penumbra in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Penumbra has an average rating of “Moderate Buy” and an average target price of $261.36.

Penumbra Stock Up 0.7 %

Shares of NYSE PEN opened at $264.08 on Tuesday. The business has a 50-day simple moving average of $244.55 and a two-hundred day simple moving average of $212.98. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra has a 52 week low of $148.00 and a 52 week high of $277.34. The company has a market cap of $10.14 billion, a P/E ratio of 307.07, a P/E/G ratio of 1.93 and a beta of 0.52.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. Research analysts anticipate that Penumbra will post 2.81 earnings per share for the current fiscal year.

Insider Activity

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $237.28, for a total value of $3,559,200.00. Following the sale, the chief executive officer now owns 852,582 shares of the company’s stock, valued at $202,300,656.96. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,819 shares of company stock valued at $8,129,483. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC bought a new position in Penumbra in the 3rd quarter worth $26,000. GAMMA Investing LLC increased its position in shares of Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after buying an additional 90 shares during the period. UMB Bank n.a. raised its stake in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after buying an additional 70 shares in the last quarter. Park Place Capital Corp lifted its holdings in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after buying an additional 339 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after acquiring an additional 369 shares in 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.