Penumbra (NYSE:PEN) Price Target Raised to $335.00 at Piper Sandler

Penumbra (NYSE:PEN – Get Rating) had its price objective boosted by Piper Sandler from $300.00 to $335.00 in a research note released on Wednesday, The Fly reports.

A number of other brokerages also recently weighed in on PEN. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Penumbra from $297.00 to $325.00 in a research note on Wednesday, May 3rd. Royal Bank of Canada boosted their price target on shares of Penumbra from $289.00 to $303.00 in a report on Wednesday, May 3rd. JPMorgan Chase & Co. boosted their price target on shares of Penumbra from $254.00 to $285.00 and gave the stock an overweight rating in a report on Wednesday, February 1st. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $246.00 to $286.00 and gave the stock a buy rating in a research report on Friday, February 24th. Finally, 58.com reaffirmed a maintains rating on shares of Penumbra in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra currently has a consensus rating of Moderate Buy and an average price target of $296.33.

Penumbra Stock Performance

NYSE PEN opened at $307.57 on Wednesday. Penumbra has a 1 year low of $114.86 and a 1 year high of $324.38. The company has a current ratio of 5.37, a quick ratio of 3.02 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 1,922.43 and a beta of 0.54. The firm’s 50 day simple moving average is $288.74 and its 200 day simple moving average is $251.84.

Penumbra (NYSE:PEN – Get Rating) last issued its earnings results on Tuesday, May 2nd. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. The firm had revenue of $241.40 million for the quarter, compared to analyst estimates of $229.70 million. Penumbra had a net margin of 0.73% and a return on equity of 1.58%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, research analysts expect that Penumbra will post 1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, CEO Adam Elsesser sold 9,666 shares of Penumbra stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $318.52, for a total value of $3,078,814.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Penumbra news, CEO Adam Elsesser sold 9,666 shares of Penumbra stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $318.52, for a total transaction of $3,078,814.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $258.62, for a total transaction of $155,172.00. Following the completion of the transaction, the executive vice president now directly owns 69,960 shares in the company, valued at approximately $18,093,055.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,826 shares of company stock worth $7,332,139. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Penumbra

A number of hedge funds have recently bought and sold shares of PEN. Raymond James & Associates increased its position in Penumbra by 8.1% during the first quarter. Raymond James & Associates now owns 8,565 shares of the company’s stock valued at $1,903,000 after acquiring an additional 641 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Penumbra by 44.5% in the first quarter. Citigroup Inc. now owns 4,979 shares of the company’s stock worth $1,106,000 after purchasing an additional 1,534 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Penumbra by 15.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,211 shares of the company’s stock worth $269,000 after purchasing an additional 164 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Penumbra by 8.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 19,045 shares of the company’s stock worth $4,348,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Penumbra by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 90,610 shares of the company’s stock worth $20,123,000 after acquiring an additional 2,717 shares in the last quarter. Hedge funds and other institutional investors own 82.42% of the company’s stock.

Penumbra Company Profile

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Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers neurovascular thrombectomy and embolization and access technologies, neurosurgical tools, Penumbra LANTERN Delivery Microcatheter, and Penumbra Occlusion Device (POD) system. The company was founded by Arani Bose and Adam Elsesser on June 21, 2004, and is headquartered in Alameda, CA.