Penumbra (NYSE:PEN) Trading 7.1% Higher – Still a Buy?

Shares of Penumbra, Inc. (NYSE:PEN) traded up 7.1% on Tuesday . The stock traded as high as $257.36 and last traded at $254.07. 128,567 shares traded hands during trading, a decline of 65% from the average session volume of 364,074 shares. The stock had previously closed at $237.28.

Wall Street Analysts Forecast Growth

PEN has been the subject of several recent analyst reports. BTIG Research raised their price objective on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Robert W. Baird lifted their target price on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Canaccord Genuity Group increased their price target on Penumbra from $260.00 to $323.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Citigroup raised their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.

Penumbra Stock Up 2.3 %

The firm has a market cap of $9.90 billion, a PE ratio of 299.93, a PEG ratio of 2.47 and a beta of 0.52. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $241.17 and a 200-day moving average price of $208.76.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts forecast that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Monday, October 21st. The shares were sold at an average price of $204.56, for a total transaction of $3,068,400.00. Following the sale, the chief executive officer now directly owns 867,582 shares in the company, valued at $177,472,573.92. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the transaction, the director now directly owns 8,530 shares in the company, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,819 shares of company stock worth $11,197,883. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Large investors have recently modified their holdings of the company. Diversified Trust Co raised its position in Penumbra by 3.0% in the 4th quarter. Diversified Trust Co now owns 10,269 shares of the company’s stock valued at $2,439,000 after purchasing an additional 298 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Penumbra in the fourth quarter valued at $304,000. GAMMA Investing LLC increased its stake in Penumbra by 160.8% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock valued at $106,000 after purchasing an additional 275 shares during the period. Franklin Resources Inc. raised its holdings in shares of Penumbra by 8.2% in the third quarter. Franklin Resources Inc. now owns 319,232 shares of the company’s stock valued at $67,473,000 after buying an additional 24,091 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Penumbra by 2.7% during the third quarter. Tidal Investments LLC now owns 5,008 shares of the company’s stock worth $973,000 after buying an additional 130 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

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.