Penumbra (NYSE:PEN – Get Free Report) had its price objective hoisted by stock analysts at Canaccord Genuity Group from $176.00 to $235.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 14.91% from the company’s current price.
Other equities analysts have also issued research reports about the company. Stifel Nicolaus initiated coverage on Penumbra in a research note on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price target on the stock. Leerink Partnrs raised shares of Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Truist Financial lifted their price target on shares of Penumbra from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday. BTIG Research boosted their price target on shares of Penumbra from $224.00 to $234.00 and gave the company a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada increased their price objective on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.08.
Penumbra Trading Down 1.0 %
PEN stock traded down $2.12 during trading on Wednesday, reaching $204.50. 103,346 shares of the stock were exchanged, compared to its average volume of 380,994. The business has a 50 day moving average price of $194.26 and a 200-day moving average price of $194.30. Penumbra has a 1 year low of $148.00 and a 1 year high of $277.34. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 86.29, a P/E/G ratio of 2.25 and a beta of 0.54.
Penumbra (NYSE:PEN – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. The firm had revenue of $299.40 million for the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. On average, research analysts predict that Penumbra will post 2.59 earnings per share for the current year.
Penumbra declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Insider Activity at Penumbra
In other Penumbra news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 61,688 shares in the company, valued at $10,855,854.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Adam Elsesser sold 1,620 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total transaction of $324,000.00. Following the sale, the chief executive officer now owns 925,962 shares of the company’s stock, valued at approximately $185,192,400. 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 the SEC website. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $175.98, for a total value 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,368 shares of company stock valued at $3,824,718 over the last 90 days. 5.00% of the stock is owned by corporate insiders.
Institutional Trading of Penumbra
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Penumbra by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,658,103 shares of the company’s stock worth $920,159,000 after acquiring an additional 58,184 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Penumbra in the 1st quarter valued at about $29,000. Congress Asset Management Co. MA boosted its position in shares of Penumbra by 375.0% in the 1st quarter. Congress Asset Management Co. MA now owns 26,576 shares of the company’s stock valued at $5,931,000 after purchasing an additional 20,981 shares during the period. Diversified Trust Co grew its stake in Penumbra by 112.1% during the 1st quarter. Diversified Trust Co now owns 6,720 shares of the company’s stock worth $1,500,000 after buying an additional 3,552 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in Penumbra by 3.3% during the first quarter. State of Michigan Retirement System now owns 9,514 shares of the company’s stock worth $2,123,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.
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.