Analysts Set Penumbra, Inc. (NYSE:PEN) PT at $361.69

Shares of Penumbra, Inc. (NYSE:PEN) have been given an average rating of “Hold” by the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. Fourteen analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $361.6875.

A number of equities analysts recently weighed in on the stock. Citigroup lowered shares of Penumbra from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $350.00 to $374.00 in a report on Thursday, January 15th. BTIG Research lowered Penumbra from a “buy” rating to a “neutral” rating and set a $349.00 target price for the company. in a report on Thursday, January 15th. Canaccord Genuity Group cut Penumbra from a “buy” rating to a “hold” rating and boosted their price target for the stock from $359.00 to $374.00 in a research note on Tuesday, January 20th. UBS Group reaffirmed a “neutral” rating and set a $374.00 price target on shares of Penumbra in a report on Thursday, February 26th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $374.00 price objective on shares of Penumbra in a research report on Thursday, January 15th.

Penumbra Price Performance

Shares of PEN stock opened at $336.31 on Monday. The business’s fifty day moving average is $343.84 and its 200 day moving average is $301.33. The company has a quick ratio of 4.29, a current ratio of 6.64 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 74.41, a PEG ratio of 2.06 and a beta of 0.81. Penumbra has a twelve month low of $221.26 and a twelve month high of $362.41.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $1.12 by ($1.49). The firm had revenue of $385.39 million for the quarter, compared to analysts’ expectations of $367.18 million. Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 EPS. Research analysts expect that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harpreet Grewal sold 186 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $312.64, for a total transaction of $58,151.04. Following the transaction, the director owned 8,230 shares in the company, valued at approximately $2,573,027.20. This trade represents a 2.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,804 shares of company stock worth $948,419. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Penumbra

A number of hedge funds have recently added to or reduced their stakes in PEN. Mather Group LLC. purchased a new position in shares of Penumbra in the 3rd quarter worth $25,000. Larson Financial Group LLC increased its position in Penumbra by 4,100.0% during the fourth quarter. Larson Financial Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Penumbra by 2,700.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84 shares of the company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Motiv8 Investments LLC purchased a new position in Penumbra in the fourth quarter worth about $27,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Penumbra in the second quarter worth about $30,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

About Penumbra

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.