Penumbra (NYSE:PEN) Now Covered by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Penumbra (NYSE:PEN) in a research report released on Tuesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $275.00 price objective on the stock.

Several other research firms also recently issued reports on PEN. Piper Sandler boosted their price objective on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada boosted their price objective on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company upgraded Penumbra from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $275.00 in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.15.

Penumbra Price Performance

Shares of NYSE:PEN opened at $247.51 on Tuesday. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 287.80, a PEG ratio of 2.47 and a beta of 0.51. The business has a 50 day moving average price of $229.52 and a 200 day moving average price of $202.69. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra has a twelve month low of $148.00 and a twelve month high of $277.34.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company had revenue of $301.04 million during the quarter, compared to analysts’ expectations of $297.36 million. During the same period in the prior year, the business earned $0.67 earnings per share. Penumbra’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts predict that Penumbra will post 2.81 earnings per share for the current year.

Insider Buying and Selling at Penumbra

In other Penumbra news, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the transaction, the executive vice president now owns 63,444 shares in the company, valued at approximately $15,511,423.56. The trade was a 0.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lambert Shiu sold 654 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $243.01, for a total value of $158,928.54. Following the completion of the transaction, the chief accounting officer now directly owns 20,028 shares in the company, valued at approximately $4,867,004.28. This represents a 3.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,418 shares of company stock worth $10,624,973 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new position in shares of Penumbra during the third quarter worth approximately $26,000. GAMMA Investing LLC raised its position in Penumbra by 111.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Park Place Capital Corp lifted its holdings in Penumbra by 1,473.9% during the 3rd quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after buying an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Penumbra by 1,845.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after buying an additional 369 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 43 shares during the period. Institutional investors own 88.88% of the company’s stock.

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.