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

Penumbra, Inc. (NYSE:PEN) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $300.64.

Several research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, May 8th. JPMorgan Chase & Co. lowered shares of Penumbra from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $284.00 to $250.00 in a report on Friday, February 23rd. Piper Sandler decreased their price objective on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Canaccord Genuity Group decreased their price objective on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Truist Financial decreased their price objective on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, March 22nd.

Insider Activity at Penumbra

In related news, Director Don W. Kassing sold 170 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $223.18, for a total transaction of $37,940.60. Following the sale, the director now directly owns 1,175 shares of the company’s stock, valued at approximately $262,236.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 sale, the chief executive officer now directly owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Don W. Kassing sold 170 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $223.18, for a total transaction of $37,940.60. Following the transaction, the director now owns 1,175 shares in the company, valued at approximately $262,236.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,248 shares of company stock valued at $5,509,049. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Penumbra

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC bought a new position in Penumbra during the 4th quarter valued at about $7,503,000. Quadrant Capital Group LLC lifted its stake in shares of Penumbra by 31.3% in the 4th quarter. Quadrant Capital Group LLC now owns 722 shares of the company’s stock worth $182,000 after purchasing an additional 172 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Penumbra by 19.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock worth $66,697,000 after purchasing an additional 42,876 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Penumbra by 1.3% in the 4th quarter. Yousif Capital Management LLC now owns 18,399 shares of the company’s stock worth $4,628,000 after purchasing an additional 234 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of Penumbra in the 3rd quarter worth approximately $209,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Trading Down 4.2 %

NYSE:PEN opened at $190.64 on Friday. The company has a fifty day moving average of $212.45 and a 200 day moving average of $232.05. Penumbra has a 52 week low of $180.93 and a 52 week high of $348.67. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $7.39 billion, a P/E ratio of 80.44, a P/E/G ratio of 2.03 and a beta of 0.57.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The firm had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts predict that Penumbra will post 2.87 earnings per share for the current year.

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.