Penumbra (NYSE:PEN) Stock Rating Reaffirmed by Needham & Company LLC

Penumbra (NYSE:PEN)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports.

PEN has been the topic of several other research reports. BTIG Research reduced their price objective on shares of Penumbra from $265.00 to $232.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Truist Financial reduced their price objective on shares of Penumbra from $280.00 to $230.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Canaccord Genuity Group reduced their price target on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Morgan Stanley reduced their price target on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Finally, Citigroup cut shares of Penumbra from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $165.00 to $178.00 in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $223.44.

Penumbra Trading Down 3.2 %

Penumbra stock opened at $172.76 on Wednesday. The stock has a market cap of $6.70 billion, a P/E ratio of 72.89, a PEG ratio of 1.80 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.12 and a quick ratio of 3.51. Penumbra has a 1 year low of $170.59 and a 1 year high of $310.51. The firm’s 50 day moving average price is $185.60 and its 200-day moving average price is $215.83.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. The firm had revenue of $299.40 million for the quarter, compared to analysts’ expectations of $298.24 million. Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 earnings per share. On average, equities analysts predict that Penumbra will post 2.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $207.41, for a total transaction of $124,446.00. Following the completion of the sale, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at $13,168,046.08. 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 stock in a transaction dated 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 completion of the sale, the chief executive officer now directly 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 stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $207.41, for a total transaction of $124,446.00. Following the sale, the executive vice president now directly owns 63,488 shares of the company’s stock, valued at $13,168,046.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,970 shares of company stock valued at $6,428,404. 5.00% of the stock is currently owned by insiders.

Institutional Trading of Penumbra

Several hedge funds have recently modified their holdings of PEN. Benjamin F. Edwards & Company Inc. lifted its position in shares of Penumbra by 171.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after buying an additional 67 shares in the last quarter. Mather Group LLC. purchased a new position in Penumbra in the 1st quarter valued at $29,000. Signaturefd LLC lifted its holdings in Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after purchasing an additional 46 shares in the last quarter. WASHINGTON TRUST Co purchased a new position in Penumbra in the 2nd quarter valued at $54,000. Finally, Quest Partners LLC purchased a new position in Penumbra in the 4th quarter valued at $71,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

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.