Penumbra, Inc. (NYSE:PEN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $294.47.

Several analysts recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their target price on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Robert W. Baird raised their target price on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Oppenheimer initiated coverage on shares of Penumbra in a report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 target price for the company. Finally, BTIG Research raised their target price on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th.

Penumbra Stock Up 1.8 %

Shares of NYSE PEN opened at $280.26 on Thursday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. Penumbra has a 52 week low of $148.00 and a 52 week high of $310.00. The firm has a 50-day moving average price of $271.61 and a 200 day moving average price of $239.21. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 824.31, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The firm had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Equities research analysts anticipate that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Penumbra news, CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now directly owns 16,376 shares of the company’s stock, valued at $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction that occurred on 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 in the company, 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. Over the last three months, insiders have sold 79,918 shares of company stock valued at $22,054,293. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC acquired a new position in shares of Penumbra during the third quarter worth $26,000. UMB Bank n.a. increased its stake in shares of 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 during the last quarter. Hurley Capital LLC bought a new stake in shares of Penumbra in the fourth quarter worth $56,000. Huntington National Bank increased its stake in shares of Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after buying an additional 154 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares during the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

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.