JPMorgan Chase & Co. Boosts Penumbra (NYSE:PEN) Price Target to $285.00

Penumbra (NYSE:PEN) had its price objective increased by JPMorgan Chase & Co. from $230.00 to $285.00 in a research note published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada increased their target price on Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group increased their target price on Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird raised their price objective on Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price objective on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $292.64.

Penumbra Price Performance

Shares of NYSE PEN opened at $292.52 on Wednesday. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 860.35, a PEG ratio of 2.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The firm’s 50 day simple moving average is $258.16 and its 200-day simple moving average is $227.04.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. Analysts expect that Penumbra will post 3.86 EPS for the current year.

Insider Transactions at Penumbra

In other news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total transaction of $40,293.76. Following the transaction, the director now owns 8,530 shares in the company, valued at $2,058,118.40. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total value of $146,694.00. Following the sale, the executive vice president now directly owns 63,444 shares of the company’s stock, valued at $15,511,423.56. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,219 shares of company stock worth $4,426,439 in the last quarter. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently modified their holdings of PEN. Creative Planning increased its position in shares of Penumbra by 4.7% during the 3rd quarter. Creative Planning now owns 1,574 shares of the company’s stock worth $306,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. increased its position in shares of Penumbra by 808.9% during the 3rd quarter. Blue Trust Inc. now owns 509 shares of the company’s stock worth $92,000 after purchasing an additional 453 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Penumbra by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 214,113 shares of the company’s stock valued at $41,604,000 after acquiring an additional 3,973 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new position in Penumbra in the 3rd quarter valued at about $244,000. Finally, E. Ohman J or Asset Management AB grew its position in Penumbra by 26.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 19,312 shares of the company’s stock valued at $3,753,000 after acquiring an additional 4,000 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Company Profile

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.