Penumbra (NYSE:PEN) Stock Rating Reaffirmed by Needham & Company LLC

Penumbra (NYSE:PEN)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group reissued a “buy” rating and set a $284.00 price target on shares of Penumbra in a report on Friday, February 23rd. Piper Sandler reissued an “overweight” rating and issued a $290.00 target price on shares of Penumbra in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. lowered shares of Penumbra from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $289.00 price objective on shares of Penumbra in a research note on Friday, February 23rd. Finally, TheStreet raised shares of Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and a consensus target price of $300.64.

Penumbra Price Performance

NYSE PEN opened at $209.40 on Wednesday. Penumbra has a one year low of $180.93 and a one year high of $348.67. The stock has a 50-day moving average of $220.57 and a 200 day moving average of $231.66. 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 company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 90.65, a PEG ratio of 2.06 and a beta of 0.57.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $278.70 million during the quarter, compared to the consensus estimate of $274.94 million. Penumbra had a return on equity of 7.49% and a net margin of 8.59%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, sell-side analysts forecast that Penumbra will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.07, for a total transaction of $130,242.00. Following the sale, the executive vice president now owns 64,281 shares of the company’s stock, valued at approximately $13,953,476.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.07, for a total value of $130,242.00. Following the sale, the executive vice president now owns 64,281 shares in the company, valued at approximately $13,953,476.67. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arani Bose sold 7,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $250.20, for a total value of $1,876,500.00. Following the transaction, the director now owns 164,294 shares of the company’s stock, valued at approximately $41,106,358.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,648 shares of company stock valued at $2,369,903. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System grew its position in Penumbra by 4.6% in the third quarter. New York State Teachers Retirement System now owns 37,688 shares of the company’s stock worth $9,117,000 after acquiring an additional 1,652 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Penumbra by 18.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,055 shares of the company’s stock valued at $1,707,000 after purchasing an additional 1,079 shares during the last quarter. Strs Ohio raised its holdings in Penumbra by 19.8% during the 3rd quarter. Strs Ohio now owns 3,435 shares of the company’s stock valued at $830,000 after buying an additional 567 shares during the period. TD Asset Management Inc lifted its position in Penumbra by 81.8% in the third quarter. TD Asset Management Inc now owns 131,734 shares of the company’s stock worth $31,868,000 after buying an additional 59,266 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Penumbra by 81.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 222,279 shares of the company’s stock worth $53,772,000 after buying an additional 99,754 shares during the period. Institutional investors own 88.88% of the company’s stock.

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.