Penumbra (NYSE:PEN) Price Target Raised to $305.00 at Wells Fargo & Company

Penumbra (NYSE:PEN) had its price objective lifted by research analysts at Wells Fargo & Company from $275.00 to $305.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 0.72% from the company’s current price.

Several other research firms have also recently issued reports on PEN. BTIG Research lifted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial lifted their price objective on shares of Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Citigroup lifted their price objective on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Piper Sandler lifted their price objective on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.64.

Penumbra Price Performance

NYSE PEN opened at $302.82 on Wednesday. Penumbra has a 12 month low of $148.00 and a 12 month high of $310.00. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 890.64, a PEG ratio of 1.99 and a beta of 0.53. The company’s 50 day moving average is $257.15 and its two-hundred day moving average is $226.51. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.73%. The company had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. As a group, research analysts anticipate that Penumbra will post 3.86 earnings per share for the current year.

Insiders Place Their Bets

In other Penumbra news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction 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 completion of the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the transaction, 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 sold 18,219 shares of company stock valued at $4,426,439 over the last three months. 5.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PEN. True Wealth Design LLC purchased a new position in Penumbra during the third quarter worth $26,000. UMB Bank n.a. boosted its stake in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the period. Hurley Capital LLC purchased a new stake in shares of Penumbra during the fourth quarter valued at $56,000. Huntington National Bank boosted its stake in shares of Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after purchasing an additional 154 shares during the period. Finally, Mather Group LLC. boosted its stake in shares of Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

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.