Penumbra (NYSE:PEN) Receives New Coverage from Analysts at Leerink Partners

Leerink Partners initiated coverage on shares of Penumbra (NYSE:PEN) in a research report report published on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $263.00 price objective on the stock.

Several other equities analysts have also recently commented on PEN. Piper Sandler dropped their target price on shares of Penumbra from $260.00 to $200.00 and set an overweight rating for the company in a research report on Wednesday, July 31st. Robert W. Baird decreased their price target on shares of Penumbra from $231.00 to $180.00 and set an outperform rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company lowered shares of Penumbra from an overweight rating to an equal weight rating and reduced their target price for the stock from $289.00 to $150.00 in a report on Wednesday, July 31st. Morgan Stanley reduced their target price on shares of Penumbra from $235.00 to $210.00 and set an equal weight rating on the stock in a report on Monday, July 15th. Finally, BTIG Research upped their price objective on shares of Penumbra from $187.00 to $224.00 and gave the company a buy rating in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $205.27.

Penumbra Stock Performance

Shares of PEN stock opened at $204.97 on Tuesday. The stock has a market cap of $7.95 billion, a P/E ratio of 86.49, a P/E/G ratio of 2.26 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.25 and a quick ratio of 3.77. The company has a fifty day moving average price of $185.75 and a two-hundred day moving average price of $203.25. Penumbra has a one year low of $148.00 and a one year high of $302.00.

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

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the sale, the chief executive officer now owns 927,582 shares of the company’s stock, valued at approximately $187,853,906.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total value of $3,037,800.00. Following the completion of the sale, the chief executive officer now owns 927,582 shares of the company’s stock, valued at $187,853,906.64. The sale was disclosed in a 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 stock was sold at an average price of $175.98, for a total value of $105,588.00. Following the completion of 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. Over the last 90 days, insiders sold 17,990 shares of company stock worth $3,605,506. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Penumbra

Hedge funds have recently made changes to their positions in the company. New York Life Investment Management LLC grew its stake in Penumbra by 7.0% in the fourth quarter. New York Life Investment Management LLC now owns 4,358 shares of the company’s stock worth $1,096,000 after purchasing an additional 284 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings 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 buying an additional 67 shares during the period. M&T Bank Corp lifted its holdings in Penumbra by 9.4% during the fourth quarter. M&T Bank Corp now owns 1,380 shares of the company’s stock worth $347,000 after buying an additional 118 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Penumbra by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 250,101 shares of the company’s stock valued at $62,910,000 after purchasing an additional 10,998 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Penumbra during the 4th quarter valued at $88,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

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.