Royal Bank of Canada Issues Positive Forecast for Penumbra (NYSE:PEN) Stock Price

Penumbra (NYSE:PEN) had its price objective upped by Royal Bank of Canada from $285.00 to $313.00 in a research note issued to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research analysts also recently commented on PEN. Citigroup lifted their price target on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. BTIG Research lifted their price target on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Canaccord Genuity Group lifted their price target on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group lifted their price target on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Truist Financial boosted 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. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Penumbra presently has an average rating of “Moderate Buy” and an average price target of $292.64.

Penumbra Stock Up 12.0 %

PEN stock opened at $303.55 on Wednesday. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 352.97, a price-to-earnings-growth ratio of 1.97 and a beta of 0.53. The company has a 50-day moving average of $256.15 and a two-hundred day moving average of $225.97. Penumbra has a 52-week low of $148.00 and a 52-week high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $315.52 million during the quarter, compared to the consensus estimate 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 anticipate that Penumbra will post 2.81 EPS for the current year.

Insider Activity at Penumbra

In related news, Director Harpreet Grewal sold 167 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now owns 8,530 shares of the company’s stock, valued at $2,058,118.40. The trade was a 1.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the sale, the chief executive officer now directly owns 837,582 shares in the company, valued at approximately $203,498,922.72. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,219 shares of company stock valued at $4,426,439 in the last 90 days. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of Penumbra

Several institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC acquired a new position in Penumbra in the third quarter worth $26,000. UMB Bank n.a. boosted its stake in Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares in the last quarter. Hurley Capital LLC acquired a new position in Penumbra in the fourth quarter worth $56,000. Huntington National Bank boosted its stake in Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Penumbra by 208.0% in the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after purchasing an additional 208 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.