Penumbra, Inc. (NYSE:PEN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Penumbra, Inc. (NYSE:PEN) has been given an average rating of “Moderate Buy” by the eleven research firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $199.50.

PEN has been the topic of a number of research analyst reports. Morgan Stanley cut their target price on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company downgraded 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. Citigroup boosted their price target on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Royal Bank of Canada lowered their price objective on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Canaccord Genuity Group reduced their target price on shares of Penumbra from $272.00 to $176.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Insider Transactions at Penumbra

In related news, CEO Adam Elsesser sold 1,620 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total transaction of $324,000.00. Following the sale, the chief executive officer now directly owns 925,962 shares in the company, valued at approximately $185,192,400. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Adam Elsesser sold 1,620 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $200.00, for a total transaction of $324,000.00. Following the sale, the chief executive officer now owns 925,962 shares of the company’s stock, valued at approximately $185,192,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. The disclosure for this sale can be found here. Insiders sold 18,590 shares of company stock valued at $3,718,846 over the last three months. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. lifted its stake 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 purchasing an additional 67 shares during the last quarter. Mather Group LLC. bought a new position in Penumbra during the first quarter valued at approximately $29,000. Signaturefd LLC lifted its holdings in shares of Penumbra by 27.2% in the 4th quarter. Signaturefd LLC now owns 215 shares of the company’s stock worth $54,000 after acquiring an additional 46 shares during the last quarter. WASHINGTON TRUST Co purchased a new stake in shares of Penumbra in the 2nd quarter valued at $54,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the period. 88.88% of the stock is owned by institutional investors.

Penumbra Trading Up 1.0 %

NYSE PEN opened at $202.40 on Friday. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $183.52 and a 200 day simple moving average of $205.57. Penumbra has a 12 month low of $148.00 and a 12 month high of $302.00. The firm has a market capitalization of $7.85 billion, a P/E ratio of 85.40, a PEG ratio of 2.13 and a beta of 0.55.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company had revenue of $299.40 million during the quarter, compared to the consensus estimate of $298.24 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts predict that Penumbra will post 2.64 EPS for the current fiscal year.

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.