Penumbra (NYSE:PEN) Receives Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Penumbra (NYSE:PEN) in a report released on Wednesday morning,Benzinga reports. Piper Sandler currently has a $330.00 price objective on the stock, up from their previous price objective of $250.00.

A number of other analysts have also issued reports on the company. UBS Group initiated coverage on Penumbra in a research note on Tuesday, January 21st. They issued a “buy” rating and a $305.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Wednesday. Citigroup raised their price target on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group raised their price objective on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, BTIG Research raised their price objective on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.64.

Penumbra Stock Down 3.5 %

PEN opened at $292.52 on Wednesday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $11.27 billion, a P/E ratio of 860.35, a PEG ratio of 2.23 and a beta of 0.53. Penumbra has a 52 week low of $148.00 and a 52 week high of $310.00. The business’s fifty day simple moving average is $258.16 and its 200 day simple moving average is $227.04.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The firm had revenue of $315.52 million for the quarter, compared to analyst estimates of $311.63 million. As a group, equities research analysts anticipate that Penumbra will post 3.86 EPS for the current fiscal year.

Insider Activity at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total transaction of $146,694.00. Following the sale, the executive vice president now directly owns 63,444 shares in the company, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lambert Shiu sold 1,798 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $242.56, for a total value of $436,122.88. Following the sale, the chief accounting officer now owns 20,682 shares in the company, valued at approximately $5,016,625.92. The trade was a 8.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,219 shares of company stock worth $4,426,439. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Penumbra

Institutional investors and hedge funds have recently made changes to their positions in the business. True Wealth Design LLC acquired a new stake in Penumbra in the third quarter valued at $26,000. UMB Bank n.a. boosted its stake in Penumbra by 57.4% during the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after acquiring an additional 70 shares during the last quarter. Hurley Capital LLC bought a new position in Penumbra during the 4th quarter valued at $56,000. Huntington National Bank boosted its stake in Penumbra by 138.7% during the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after acquiring an additional 154 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after acquiring an additional 208 shares during the last quarter. 88.88% of the stock is currently 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.