Penumbra, Inc. (NYSE:PEN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Penumbra, Inc. (NYSE:PEN) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $292.64.

Several equities research analysts have recently commented on PEN shares. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Wednesday. BTIG Research lifted their price target on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price target on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of Penumbra from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their price target on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday.

Penumbra Trading Down 3.5 %

PEN opened at $292.52 on Friday. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.27 billion, a PE ratio of 860.35, a PEG ratio of 2.83 and a beta of 0.53. Penumbra has a 1-year low of $148.00 and a 1-year high of $310.00. The firm has a 50-day moving average price of $259.09 and a two-hundred day moving average price of $227.84.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. As a group, equities analysts anticipate that Penumbra will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $244.49, for a total value of $146,694.00. Following the sale, the executive vice president now owns 63,444 shares of the company’s stock, valued at $15,511,423.56. The trade was a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lambert Shiu sold 1,798 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the completion of the sale, the chief accounting officer now directly owns 20,682 shares in the company, valued at approximately $5,016,625.92. This represents a 8.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,219 shares of company stock valued at $4,426,439. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Penumbra

A number of institutional investors have recently made changes to their positions in PEN. Janus Henderson Group PLC lifted its position in shares of Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after purchasing an additional 375,684 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after purchasing an additional 358,932 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after purchasing an additional 264,122 shares in the last quarter. Norges Bank bought a new stake in shares of Penumbra in the fourth quarter worth $54,396,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Penumbra by 47.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock worth $167,913,000 after purchasing an additional 227,506 shares in the last quarter. Institutional investors 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.