Penumbra (NYSE:PEN) Price Target Cut to $315.00 by Analysts at Truist Financial

Penumbra (NYSE:PEN) had its price objective lowered by stock analysts at Truist Financial from $325.00 to $315.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 16.50% from the stock’s current price.

PEN has been the topic of several other reports. Royal Bank of Canada boosted their target price on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their target price on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. StockNews.com lowered shares of Penumbra from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their price objective on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their target price on Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Four 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $293.80.

Penumbra Stock Up 0.7 %

Shares of NYSE PEN opened at $270.38 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The firm has a 50-day simple moving average of $274.12 and a two-hundred day simple moving average of $248.20. Penumbra has a 1 year low of $148.00 and a 1 year high of $310.00. The company has a market cap of $10.41 billion, a P/E ratio of 791.96, a PEG ratio of 2.83 and a beta of 0.56.

Penumbra (NYSE:PEN) last posted its quarterly 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 9.74%. The firm had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Research analysts anticipate that Penumbra will post 3.67 earnings per share for the current year.

Insider Activity

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $287.43, for a total transaction of $172,458.00. Following the completion of the sale, the executive vice president now directly owns 66,539 shares of the company’s stock, valued at $19,125,304.77. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Maggie Yuen sold 2,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $286.00, for a total value of $572,000.00. Following the completion of the transaction, the chief financial officer now owns 15,243 shares in the company, valued at approximately $4,359,498. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,236 shares of company stock valued at $31,222,390. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEN. UMB Bank n.a. increased its holdings in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after buying an additional 70 shares in the last quarter. Hurley Capital LLC acquired a new position in Penumbra during the fourth quarter worth $56,000. Huntington National Bank boosted its position in Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares in the last quarter. Mather Group LLC. grew its holdings in Penumbra by 208.0% in 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 last quarter. Finally, Versant Capital Management Inc increased its position in shares of Penumbra by 893.5% in the first quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock valued at $82,000 after buying an additional 277 shares in the last quarter. 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.