Penumbra, Inc. (NYSE:PEN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $287.60.

PEN has been the topic of several research analyst reports. Piper Sandler reduced their price objective on Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Canaccord Genuity Group cut their price target on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Truist Financial cut their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Citigroup cut their price target on Penumbra from $300.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Wednesday, May 8th.

Penumbra Stock Performance

NYSE:PEN opened at $190.83 on Friday. The stock’s 50-day simple moving average is $189.70 and its 200 day simple moving average is $221.25. The firm has a market capitalization of $7.40 billion, a PE ratio of 80.52, a price-to-earnings-growth ratio of 1.82 and a beta of 0.55. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. Penumbra has a twelve month low of $170.59 and a twelve month high of $323.34.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $278.70 million during the quarter, compared to analyst estimates of $274.94 million. Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share. On average, analysts anticipate that Penumbra will post 2.87 EPS for the current fiscal year.

Insider Transactions at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00. Following the completion of the sale, the chief executive officer now directly owns 942,582 shares in the company, valued at $189,440,130.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $188.90, for a total value of $113,340.00. Following the completion of the sale, the executive vice president now directly owns 62,888 shares in the company, valued at $11,879,543.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00. Following the completion of the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at $189,440,130.36. The disclosure for this sale can be found here. Insiders sold 16,970 shares of company stock worth $3,390,604 over the last ninety days. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Penumbra

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Penumbra during the second quarter valued at approximately $1,586,000. Canandaigua National Bank & Trust Co. bought a new stake in shares of Penumbra during the second quarter valued at approximately $258,000. Linden Thomas Advisory Services LLC increased its holdings in shares of Penumbra by 98.2% during the second quarter. Linden Thomas Advisory Services LLC now owns 11,474 shares of the company’s stock valued at $2,065,000 after acquiring an additional 5,686 shares in the last quarter. CWM LLC increased its holdings in shares of Penumbra by 215.7% during the second quarter. CWM LLC now owns 1,550 shares of the company’s stock valued at $279,000 after acquiring an additional 1,059 shares in the last quarter. Finally, First Hawaiian Bank bought a new stake in shares of Penumbra during the second quarter valued at approximately $1,597,000. 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.