Penumbra (NYSE:PEN) Stock Price Up 3.1%

Penumbra, Inc. (NYSE:PEN)’s stock price rose 3.1% during trading on Tuesday . The stock traded as high as $209.24 and last traded at $208.53. Approximately 97,860 shares were traded during trading, a decline of 74% from the average daily volume of 382,303 shares. The stock had previously closed at $202.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PEN shares. Wells Fargo & Company cut shares of Penumbra from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $289.00 to $150.00 in a research note on Wednesday, July 31st. Morgan Stanley reduced their price target on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Truist Financial reiterated a “buy” rating and issued a $200.00 price objective (down previously from $230.00) on shares of Penumbra in a report on Wednesday, July 31st. Robert W. Baird reduced their target price on Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Piper Sandler lowered their price target on Penumbra from $260.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.27.

Penumbra Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25. The firm’s fifty day simple moving average is $186.30 and its 200 day simple moving average is $203.25. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 85.37, a P/E/G ratio of 2.26 and a beta of 0.54.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $299.40 million for the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business posted $0.43 earnings per share. On average, sell-side analysts forecast that Penumbra, Inc. will post 2.64 earnings per share for the current year.

Insider Transactions at Penumbra

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $179.20, for a total value of $107,520.00. Following the sale, the executive vice president now owns 62,288 shares of the company’s stock, valued at approximately $11,162,009.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.20, for a total transaction of $107,520.00. Following the completion of the transaction, the executive vice president now owns 62,288 shares in the company, valued at $11,162,009.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the sale, the director now owns 1,005 shares in the company, valued at $180,889.95. The disclosure for this sale can be found here. Insiders sold 17,990 shares of company stock valued at $3,605,506 over the last three months. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently bought and sold shares of PEN. Silvercrest Asset Management Group LLC increased its position in shares of Penumbra by 3.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after purchasing an additional 55 shares during the last quarter. ProShare Advisors LLC increased its holdings in Penumbra by 2.9% during the second quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock worth $391,000 after buying an additional 62 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Penumbra by 171.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after acquiring an additional 67 shares in the last quarter. Arcadia Investment Management Corp MI lifted its stake in Penumbra by 7.9% in the second quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock valued at $181,000 after acquiring an additional 74 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of Penumbra by 9.4% in the 4th quarter. M&T Bank Corp now owns 1,380 shares of the company’s stock valued at $347,000 after acquiring an additional 118 shares during the period. 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.