Penumbra (NYSE:PEN) Upgraded by Leerink Partnrs to “Strong-Buy”

Leerink Partnrs upgraded shares of Penumbra (NYSE:PEN) to a strong-buy rating in a research note issued to investors on Tuesday, Zacks.com reports.

Several other research firms also recently weighed in on PEN. Morgan Stanley decreased their price target on Penumbra from $235.00 to $210.00 and set an equal weight rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada decreased their target price on shares of Penumbra from $289.00 to $205.00 and set an outperform rating on the stock in a research report on Wednesday, July 31st. Canaccord Genuity Group lowered their target price on shares of Penumbra from $272.00 to $176.00 and set a buy rating for the company in a report on Wednesday, July 31st. Needham & Company LLC reiterated a hold rating on shares of Penumbra in a report on Wednesday, July 31st. Finally, BTIG Research upped their price objective on Penumbra from $187.00 to $224.00 and gave the stock a buy rating in a report on Wednesday, August 28th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $205.27.

Penumbra Stock Performance

Shares of NYSE PEN opened at $204.97 on Tuesday. The company has a 50-day simple moving average of $185.75 and a 200-day simple moving average of $203.25. 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 market cap of $7.95 billion, a PE ratio of 86.49, a price-to-earnings-growth ratio of 2.26 and a beta of 0.55. Penumbra has a 12 month low of $148.00 and a 12 month high of $302.00.

Penumbra (NYSE:PEN) last released its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The firm had revenue of $299.40 million during the quarter, compared to analysts’ expectations of $298.24 million. During the same period in the previous year, the company earned $0.43 EPS. Penumbra’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities analysts anticipate that Penumbra will post 2.64 earnings per share for the current year.

Insider Activity

In related news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total transaction of $105,588.00. Following the sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $10,855,854.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $175.98, for a total value of $105,588.00. Following the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at $10,855,854.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Don W. Kassing sold 170 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the sale, the director now owns 1,005 shares in the company, valued at approximately $180,889.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,990 shares of company stock worth $3,605,506. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently made changes to their positions in the company. Silvercrest Asset Management Group LLC increased its stake in Penumbra by 3.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock valued at $375,000 after purchasing an additional 55 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Penumbra by 2.9% in the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after buying an additional 62 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Penumbra by 171.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after buying an additional 67 shares during the period. Arcadia Investment Management Corp MI grew its position in shares of Penumbra by 7.9% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock valued at $181,000 after buying an additional 74 shares during the last quarter. Finally, M&T Bank Corp raised its stake 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 acquiring an additional 118 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

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.