Penumbra, Inc. (NYSE:PEN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $193.60.

A number of equities research analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley dropped their price target on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. BTIG Research dropped their price target on shares of Penumbra from $232.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada dropped their price target on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Finally, Robert W. Baird dropped their price target on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at $189,440,130.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the sale, the chief executive officer now owns 942,582 shares of the company’s stock, valued at $189,440,130.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.20, for a total transaction of $107,520.00. Following the sale, the executive vice president now directly owns 62,288 shares in the company, valued at approximately $11,162,009.60. The disclosure for this sale can be found here. Insiders sold a total of 31,970 shares of company stock worth $6,428,404 over the last three months. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Institutional investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. grew its stake in shares of Penumbra by 171.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after purchasing an additional 67 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Penumbra in the first quarter worth $29,000. Signaturefd LLC grew its stake in shares of Penumbra by 27.2% in the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after purchasing an additional 46 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Penumbra in the fourth quarter worth $71,000. Finally, WASHINGTON TRUST Co bought a new stake in shares of Penumbra in the second quarter worth $54,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Trading Down 3.4 %

Shares of PEN stock opened at $171.44 on Wednesday. The firm has a 50 day moving average price of $183.89 and a two-hundred day moving average price of $213.42. The company has a quick ratio of 3.51, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $6.65 billion, a PE ratio of 72.34, a price-to-earnings-growth ratio of 1.85 and a beta of 0.55. Penumbra has a 12-month low of $148.00 and a 12-month high of $302.00.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The firm had revenue of $299.40 million during the quarter, compared to the consensus estimate of $298.24 million. During the same period last year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, analysts predict that Penumbra will post 2.74 earnings per share for the current year.

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.