Penumbra (NYSE:PEN – Get Free Report) had its target price raised by equities research analysts at Truist Financial from $240.00 to $265.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 10.24% from the stock’s current price.
PEN has been the topic of a number of other reports. Piper Sandler reduced their price objective on shares of Penumbra from $335.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. TheStreet downgraded shares of Penumbra from a “c” rating to a “d+” rating in a research note on Thursday, November 2nd. Citigroup reduced their price objective on shares of Penumbra from $390.00 to $320.00 and set a “buy” rating on the stock in a research note on Monday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $349.00 target price on shares of Penumbra in a report on Thursday, August 17th. Finally, Morgan Stanley dropped their target price on shares of Penumbra from $265.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.58.
Get Our Latest Research Report on PEN
Penumbra Trading Up 4.8 %
Shares of PEN stock opened at $240.39 on Tuesday. The stock has a market cap of $9.28 billion, a P/E ratio of 233.39 and a beta of 0.62. Penumbra has a 1 year low of $180.93 and a 1 year high of $348.67. The company has a current ratio of 5.99, a quick ratio of 3.41 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $213.31 and a 200 day simple moving average of $263.26.
Penumbra (NYSE:PEN – Get Free Report) last released its earnings results on Thursday, November 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.21. Penumbra had a return on equity of 5.54% and a net margin of 4.08%. The company had revenue of $270.95 million for the quarter, compared to analyst estimates of $266.02 million. On average, research analysts predict that Penumbra will post 2.04 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $226.42, for a total value of $135,852.00. Following the completion of the sale, the executive vice president now owns 62,251 shares in the company, valued at approximately $14,094,871.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $226.42, for a total value of $135,852.00. Following the completion of the sale, the executive vice president now owns 62,251 shares in the company, valued at $14,094,871.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harpreet Grewal sold 170 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $240.99, for a total value of $40,968.30. Following the completion of the sale, the director now owns 9,150 shares of the company’s stock, valued at approximately $2,205,058.50. The disclosure for this sale can be found here. Insiders sold 11,790 shares of company stock worth $2,568,357 in the last quarter. 5.30% of the stock is owned by insiders.
Institutional Investors Weigh In On Penumbra
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Penumbra by 9.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,682 shares of the company’s stock worth $1,584,000 after acquiring an additional 504 shares during the last quarter. Credit Suisse AG grew its stake in shares of Penumbra by 9.0% in the second quarter. Credit Suisse AG now owns 47,421 shares of the company’s stock worth $16,316,000 after acquiring an additional 3,928 shares during the last quarter. New Mexico Educational Retirement Board grew its stake in shares of Penumbra by 13.0% in the second quarter. New Mexico Educational Retirement Board now owns 7,800 shares of the company’s stock worth $2,684,000 after acquiring an additional 900 shares during the last quarter. Bayesian Capital Management LP grew its stake in shares of Penumbra by 172.2% in the first quarter. Bayesian Capital Management LP now owns 9,642 shares of the company’s stock worth $2,687,000 after acquiring an additional 6,100 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Penumbra by 93.3% during the second quarter. Bessemer Group Inc. now owns 5,930 shares of the company’s stock valued at $2,040,000 after buying an additional 2,862 shares during the last quarter. 88.18% of the stock is owned by hedge funds and other institutional investors.
About Penumbra
Penumbra, Inc, together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, SENDit, and PX SLIM brands.
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Source: defenseworld.net
