Brokerages Set Penumbra, Inc. (NYSE:PEN) Target Price at $361.69

Shares of Penumbra, Inc. (NYSE:PEN) have received a consensus rating of “Hold” from the eighteen analysts that are covering the stock, Marketbeat reports. Fourteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $361.6875.

A number of equities research analysts have commented on the company. Bank of America raised their price objective on Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. raised Penumbra from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $275.00 to $370.00 in a research report on Thursday, December 18th. Evercore reiterated an “outperform” rating and issued a $360.00 target price on shares of Penumbra in a report on Wednesday, February 25th. Canaccord Genuity Group downgraded shares of Penumbra from a “buy” rating to a “hold” rating and lifted their price target for the company from $359.00 to $374.00 in a research report on Tuesday, January 20th. Finally, Leerink Partners lowered shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th.

Penumbra Price Performance

Shares of NYSE PEN opened at $335.05 on Monday. The firm’s 50-day moving average price is $343.24 and its 200-day moving average price is $302.23. Penumbra has a 1-year low of $221.26 and a 1-year high of $362.41. The firm has a market capitalization of $13.15 billion, a P/E ratio of 74.13, a P/E/G ratio of 2.06 and a beta of 0.81. The company has a current ratio of 6.64, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, February 25th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $1.12 by ($1.49). Penumbra had a net margin of 12.66% and a return on equity of 11.41%. The firm had revenue of $385.39 million during the quarter, compared to analyst estimates of $367.18 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. The business’s quarterly revenue was up 22.2% on a year-over-year basis. Equities research analysts anticipate that Penumbra will post 3.67 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maggie Yuen sold 2,432 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the sale, the chief financial officer owned 18,353 shares in the company, valued at $6,282,231.90. This represents a 11.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,804 shares of company stock worth $948,419 over the last three months. 5.00% of the stock is currently owned by insiders.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEN. Vanguard Group Inc. lifted its holdings in shares of Penumbra by 5.0% in the second quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock valued at $990,760,000 after purchasing an additional 185,306 shares in the last quarter. Geode Capital Management LLC grew its holdings in Penumbra by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 766,510 shares of the company’s stock worth $238,365,000 after buying an additional 18,738 shares in the last quarter. Invesco Ltd. grew its holdings in Penumbra by 1.1% during the fourth quarter. Invesco Ltd. now owns 638,305 shares of the company’s stock worth $198,455,000 after buying an additional 7,211 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Penumbra by 165.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 594,112 shares of the company’s stock valued at $184,715,000 after buying an additional 370,636 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Penumbra by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 475,898 shares of the company’s stock valued at $147,962,000 after buying an additional 7,050 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.