Penumbra, Inc. (NYSE:PEN) Given Consensus Rating of “Moderate Buy” by Analysts

Penumbra, Inc. (NYSE:PEN) has received a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $226.67.

Several research analysts have issued reports on the company. Canaccord Genuity Group raised their target price on Penumbra from $176.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. BTIG Research increased their price target on shares of Penumbra from $224.00 to $234.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Truist Financial upped their price objective on Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, October 14th.

Insiders Place Their Bets

In other news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $197.71, for a total transaction of $2,965,650.00. Following the completion of the transaction, the chief executive officer now directly owns 882,582 shares in the company, valued at approximately $174,495,287.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00. Following the completion of the transaction, the chief executive officer now owns 882,582 shares of the company’s stock, valued at approximately $174,495,287.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harpreet Grewal sold 166 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $190.83, for a total value of $31,677.78. Following the sale, the director now directly owns 8,697 shares in the company, valued at $1,659,648.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,768 shares of company stock valued at $6,787,530 in the last quarter. 5.00% of the stock is currently owned by insiders.

Institutional Trading of Penumbra

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Penumbra by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock worth $823,681,000 after purchasing an additional 32,557 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after buying an additional 264,122 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Penumbra by 12.2% during the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock worth $186,066,000 after acquiring an additional 90,444 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock valued at $71,564,000 after acquiring an additional 358,932 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Penumbra by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock valued at $58,906,000 after acquiring an additional 4,814 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Penumbra Stock Performance

Shares of PEN stock opened at $236.31 on Friday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average price of $204.71 and a 200-day moving average price of $195.02. Penumbra has a 52 week low of $148.00 and a 52 week high of $277.34. The firm has a market capitalization of $9.07 billion, a PE ratio of 277.76, a P/E/G ratio of 2.40 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. The business had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. As a group, equities research analysts expect that Penumbra will post 2.79 earnings per share for the current year.

Penumbra announced that its board has initiated a share buyback program on Tuesday, August 13th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.