Piper Sandler started coverage on shares of Penumbra (NYSE:PEN – Get Rating) in a research note published on Monday morning, The Fly reports. The firm issued an overweight rating and a $275.00 target price on the stock.
Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Penumbra in a research note on Wednesday, October 12th. They issued a buy rating and a $230.00 price objective for the company. StockNews.com raised Penumbra from a sell rating to a hold rating in a research report on Thursday, January 5th. Royal Bank of Canada raised their target price on Penumbra from $195.00 to $215.00 in a research report on Monday, November 14th. TheStreet raised shares of Penumbra from a d+ rating to a c- rating in a report on Friday, January 13th. Finally, Needham & Company LLC lowered their price objective on shares of Penumbra from $244.00 to $235.00 and set a buy rating on the stock in a research report on Friday, November 4th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Penumbra has a consensus rating of Moderate Buy and an average price target of $244.08.
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Penumbra Price Performance
Shares of NYSE PEN opened at $250.00 on Monday. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of -306.71 and a beta of 0.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.92 and a current ratio of 5.23. Penumbra has a fifty-two week low of $114.86 and a fifty-two week high of $253.22. The firm's 50-day simple moving average is $222.29 and its 200 day simple moving average is $189.03.
Penumbra (NYSE:PEN – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. Penumbra had a positive return on equity of 0.45% and a negative net
margin of 3.68%. The company had revenue of $213.68 million for the quarter, compared to analysts' expectations of $212.41 million. As a group, research analysts anticipate that Penumbra will post 0.14 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Johanna Roberts sold 1,500 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $194.48, for a total value of $291,720.00. Following the sale, the executive vice president now directly owns 55,496 shares of the company's stock, valued at $10,792,862.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Johanna Roberts sold 1,500 shares of the business's stock in a transaction on Monday, November 14th. The shares were sold at an average price of $194.48, for a total transaction of $291,720.00. Following the completion of the transaction, the executive vice president now directly owns 55,496 shares in the company, valued at approximately $10,792,862.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Wilder sold 124 shares of the stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $223.64, for a total value of $27,731.36. Following the completion of the sale, the director now owns 214 shares in the company, valued at approximately $47,858.96. The disclosure for this sale can be found here. Insiders sold a total of 23,124 shares of company stock worth $5,639,886 in the last quarter. 5.50% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its holdings in shares of Penumbra by 30.4% in the 4th quarter. Fifth Third Bancorp now owns 223 shares of the company's stock worth $50,000 after buying an additional 52 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Penumbra by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 5,313 shares of the company's stock valued at $1,181,000 after acquiring an additional 55 shares during the last quarter. Captrust Financial Advisors raised its position in Penumbra by 44.1% during the second quarter. Captrust Financial Advisors now owns 219 shares of the company's stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Prudential Financial Inc. lifted its stake in Penumbra by 4.1% during the third quarter. Prudential Financial Inc. now owns 2,169 shares of the company's stock worth $416,000 after purchasing an additional 85 shares during the last quarter. Finally, Pictet Asset Management SA boosted its holdings in shares of Penumbra by 4.1% in the 3rd quarter. Pictet Asset Management SA now owns 2,353 shares of the company's stock worth $446,000 after purchasing an additional 93 shares in the last quarter. 82.42% of the stock is currently owned by institutional investors.
Penumbra Company Profile
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Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers neurovascular thrombectomy and embolization and access technologies, neurosurgical tools, Penumbra LANTERN Delivery Microcatheter, and Penumbra Occlusion Device (POD) system. Its target markets include interventional neuroradiologists, neurosurgeons, neurologists, cardiologists, radiologists, and vascular surgeons.
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