Penumbra (NYSE:PEN) Research Coverage Started at Bank of America

Bank of America started coverage on shares of Penumbra (NYSE:PEN) in a report released on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $320.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. Truist Financial raised their price objective on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and set a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. Robert W. Baird raised their target price on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, BTIG Research upped 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. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $294.47.

Penumbra Trading Up 4.9 %

NYSE:PEN opened at $273.51 on Friday. The firm has a 50-day simple moving average of $269.89 and a 200-day simple moving average of $237.89. Penumbra has a one year low of $148.00 and a one year high of $310.00. The firm has a market cap of $10.53 billion, a P/E ratio of 804.45, a P/E/G ratio of 2.83 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Equities analysts anticipate that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Adam Elsesser sold 61,600 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the completion of the transaction, the chief executive officer now directly owns 16,376 shares in the company, valued at $4,644,069.84. The trade was a 79.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lambert Shiu sold 501 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $282.88, for a total transaction of $141,722.88. Following the completion of the sale, the chief accounting officer now directly owns 32,969 shares in the company, valued at approximately $9,326,270.72. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,918 shares of company stock valued at $22,054,293 over the last quarter. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Employees Retirement System of Texas grew its stake in shares of Penumbra by 31.9% during the 4th quarter. Employees Retirement System of Texas now owns 5,273 shares of the company’s stock worth $1,252,000 after purchasing an additional 1,274 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Penumbra during the fourth quarter valued at $760,000. Polar Asset Management Partners Inc. increased its holdings in Penumbra by 10.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 122,126 shares of the company’s stock valued at $29,002,000 after buying an additional 11,605 shares in the last quarter. Cache Advisors LLC acquired a new position in shares of Penumbra in the fourth quarter worth about $534,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Penumbra by 6.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 22,399 shares of the company’s stock worth $5,319,000 after acquiring an additional 1,316 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

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.