Canaccord Genuity Group Increases Penumbra (NYSE:PEN) Price Target to $340.00

Penumbra (NYSE:PEN) had its price target increased by Canaccord Genuity Group from $323.00 to $340.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 12.28% from the stock’s current price.

PEN has been the topic of several other research reports. Citigroup raised their price target on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Robert W. Baird raised their price target on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price target (up previously from $250.00) on shares of Penumbra in a research note on Wednesday. UBS Group raised their price target on shares of Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial raised their price target on shares of Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Trading Down 0.3 %

Shares of PEN opened at $302.82 on Wednesday. Penumbra has a twelve month low of $148.00 and a twelve month high of $310.00. The company has a market cap of $11.62 billion, a P/E ratio of 890.64, a P/E/G ratio of 1.99 and a beta of 0.53. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $257.15 and its 200-day simple moving average is $226.51.

Penumbra (NYSE:PEN) last announced its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.73%. The business had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. As a group, analysts expect that Penumbra will post 3.86 EPS for the current year.

Insider Buying and Selling at Penumbra

In other news, CAO Lambert Shiu sold 654 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $243.01, for a total value of $158,928.54. Following the sale, the chief accounting officer now directly owns 20,028 shares in the company, valued at approximately $4,867,004.28. This trade represents a 3.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $244.49, for a total transaction of $146,694.00. Following the completion of the sale, the executive vice president now owns 63,444 shares in the company, valued at $15,511,423.56. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,219 shares of company stock valued at $4,426,439. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

Institutional investors have recently modified their holdings of the company. True Wealth Design LLC bought a new stake in shares of Penumbra in the 3rd quarter valued at about $26,000. UMB Bank n.a. boosted its stake in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares in the last quarter. Hurley Capital LLC acquired a new stake in Penumbra in the 4th quarter worth approximately $56,000. Huntington National Bank boosted its stake in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after purchasing an additional 154 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after purchasing an additional 208 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors.

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.