Analysts Set Penumbra, Inc. (NYSE:PEN) Price Target at $361.33

Penumbra, Inc. (NYSE:PEN) has been assigned a consensus rating of “Hold” from the seventeen analysts that are currently covering the firm, MarketBeat.com reports. Fourteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $361.3333.

PEN has been the subject of several analyst reports. Evercore reissued an “outperform” rating and issued a $335.00 price objective on shares of Penumbra in a research note on Thursday, May 7th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday. UBS Group reissued a “neutral” rating and issued a $374.00 price objective on shares of Penumbra in a research note on Thursday, February 26th. Citigroup decreased their price objective on shares of Penumbra from $374.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Penumbra to a “hold” rating in a research note on Saturday, May 9th.

Insider Buying and Selling at Penumbra

In other news, Director Harpreet Grewal sold 100 shares of Penumbra stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $328.22, for a total transaction of $32,822.00. Following the completion of the sale, the director owned 8,719 shares of the company’s stock, valued at approximately $2,861,750.18. The trade was a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently modified their holdings of PEN. Whitebox Advisors LLC bought a new stake in shares of Penumbra during the first quarter valued at approximately $146,125,000. Artisan Partners Limited Partnership raised its stake in shares of Penumbra by 165.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after acquiring an additional 370,636 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Penumbra during the fourth quarter valued at approximately $107,567,000. Holocene Advisors LP bought a new stake in shares of Penumbra during the third quarter valued at approximately $78,585,000. Finally, Amundi raised its stake in shares of Penumbra by 302.9% during the first quarter. Amundi now owns 345,758 shares of the company’s stock valued at $113,537,000 after acquiring an additional 259,936 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Up 0.1%

Shares of NYSE PEN opened at $318.63 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.02 and a quick ratio of 3.95. The company has a market cap of $12.53 billion, a P/E ratio of 73.42, a PEG ratio of 1.95 and a beta of 0.71. Penumbra has a 1 year low of $221.26 and a 1 year high of $362.41. The firm has a 50-day simple moving average of $325.68 and a two-hundred day simple moving average of $327.33.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.24). The firm had revenue of $374.76 million during the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. Research analysts anticipate that Penumbra will post 5.08 earnings per share for the current year.

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.