Penumbra, Inc. (NYSE:PEN) Receives $226.67 Average PT from Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have earned an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $226.67.

Several research analysts have recently issued reports on the company. Leerink Partners assumed coverage on Penumbra in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price objective for the company. Citigroup increased their price objective on Penumbra from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Canaccord Genuity Group upped their price target on Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, BTIG Research upped their target price on Penumbra from $224.00 to $234.00 and gave the company a “buy” rating in a report on Monday, October 14th.

Insider Buying and Selling at Penumbra

In other news, CEO Adam Elsesser sold 1,620 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $200.00, for a total transaction of $324,000.00. Following the completion of the sale, the chief executive officer now owns 925,962 shares in the company, valued at $185,192,400. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $206.22, for a total value of $123,732.00. Following the transaction, the executive vice president now directly owns 61,088 shares in the company, valued at $12,597,567.36. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,768 shares of company stock valued at $6,787,530. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently made changes to their positions in the business. Paloma Partners Management Co purchased a new position in Penumbra during the 3rd quarter worth $253,000. True Wealth Design LLC bought a new position in shares of Penumbra during the third quarter valued at about $26,000. Edgestream Partners L.P. purchased a new position in Penumbra during the third quarter worth about $773,000. PDT Partners LLC increased its stake in Penumbra by 44.0% in the 3rd quarter. PDT Partners LLC now owns 11,516 shares of the company’s stock valued at $2,238,000 after buying an additional 3,521 shares during the last quarter. Finally, Braidwell LP increased its stake in Penumbra by 70.0% in the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after buying an additional 148,834 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Price Performance

Shares of NYSE:PEN opened at $233.51 on Friday. Penumbra has a one year low of $148.00 and a one year high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 271.52, a PEG ratio of 2.39 and a beta of 0.51. The firm has a 50 day simple moving average of $206.02 and a 200 day simple moving average of $195.53.

Penumbra (NYSE:PEN) last released 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 for the quarter, compared to the consensus estimate of $297.36 million. During the same quarter last year, the business posted $0.67 EPS. Penumbra’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts predict that Penumbra will post 2.79 earnings per share for the current fiscal year.

Penumbra announced that its board has approved a share repurchase program on Tuesday, August 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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.