UBS Group Issues Positive Forecast for Penumbra (NYSE:PEN) Stock Price

Penumbra (NYSE:PEN) had its price objective boosted by UBS Group from $305.00 to $320.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 6.71% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company boosted their target price on Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial upped their price objective on Penumbra from $240.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Oppenheimer initiated coverage on Penumbra in a report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target on the stock. Robert W. Baird increased their price target on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, BTIG Research increased their price target on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.57.

Penumbra Stock Performance

NYSE PEN opened at $299.87 on Wednesday. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 344.15, a price-to-earnings-growth ratio of 1.97 and a beta of 0.53. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $256.15 and a 200-day moving average price of $225.97. Penumbra has a twelve month low of $148.00 and a twelve month high of $295.75.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to analyst estimates of $311.63 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. As a group, equities research analysts predict that Penumbra will post 2.81 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the sale, the chief accounting officer now owns 20,682 shares in the company, valued at approximately $5,016,625.92. This represents a 8.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the sale, the executive vice president now owns 63,444 shares of the company’s stock, valued at approximately $15,511,423.56. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,219 shares of company stock valued at $4,426,439. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Penumbra

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cache Advisors LLC purchased a new stake in shares of Penumbra during the 4th quarter valued at $534,000. Public Employees Retirement System of Ohio grew its position in shares of Penumbra by 6.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 22,399 shares of the company’s stock valued at $5,319,000 after acquiring an additional 1,316 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Penumbra by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 111,500 shares of the company’s stock worth $26,479,000 after buying an additional 13,929 shares during the last quarter. Woodline Partners LP boosted its holdings in Penumbra by 396.0% in the 4th quarter. Woodline Partners LP now owns 25,323 shares of the company’s stock worth $6,014,000 after buying an additional 20,218 shares during the last quarter. Finally, Vident Advisory LLC acquired a new stake in Penumbra in the 4th quarter worth about $212,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

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.