Penumbra, Inc. (NYSE:PEN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Penumbra, Inc. (NYSE:PEN) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $304.45.

Several research firms have issued reports on PEN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $289.00 price objective on shares of Penumbra in a report on Friday, February 23rd. Truist Financial decreased their price objective on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 price objective on shares of Penumbra in a report on Wednesday, April 3rd. JPMorgan Chase & Co. downgraded shares of Penumbra from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. Finally, TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a research note on Friday, January 12th.

Penumbra Stock Down 0.5 %

PEN stock opened at $204.41 on Monday. The firm has a market cap of $7.91 billion, a PE ratio of 88.49, a P/E/G ratio of 2.04 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.49 and a current ratio of 6.06. The firm’s fifty day moving average is $228.07 and its 200 day moving average is $231.75. Penumbra has a one year low of $180.93 and a one year high of $348.67.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The company had revenue of $284.68 million for the quarter, compared to analyst estimates of $286.62 million. Penumbra had a net margin of 8.59% and a return on equity of 7.49%. The firm’s revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the business earned $0.16 earnings per share. On average, research analysts forecast that Penumbra will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the transaction, the executive vice president now directly owns 64,281 shares of the company’s stock, valued at $13,953,476.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.07, for a total transaction of $130,242.00. Following the transaction, the executive vice president now directly owns 64,281 shares of the company’s stock, valued at $13,953,476.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arani Bose sold 7,500 shares of Penumbra stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total transaction of $1,876,500.00. Following the sale, the director now owns 164,294 shares of the company’s stock, valued at $41,106,358.80. The disclosure for this sale can be found here. Insiders have sold 9,648 shares of company stock valued at $2,369,903 over the last ninety days. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp grew its holdings in shares of Penumbra by 13.9% in the fourth quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock valued at $95,000 after purchasing an additional 46 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Penumbra by 27.2% in the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after purchasing an additional 46 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Penumbra by 171.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Penumbra by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 16,394 shares of the company’s stock valued at $3,966,000 after purchasing an additional 70 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Penumbra by 6.1% in the third quarter. M&T Bank Corp now owns 1,262 shares of the company’s stock valued at $305,000 after purchasing an additional 72 shares in the last quarter. 88.88% of the stock is currently 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.