Penumbra, Inc. (NYSE:PEN – Free Report) – Investment analysts at William Blair lifted their Q4 2023 earnings estimates for Penumbra in a report issued on Monday, November 20th. William Blair analyst M. Kaczor now forecasts that the company will post earnings of $0.70 per share for the quarter, up from their previous estimate of $0.64. The consensus estimate for Penumbra’s current full-year earnings is $1.99 per share. William Blair also issued estimates for Penumbra’s FY2024 earnings at $2.95 EPS, Q1 2025 earnings at $0.71 EPS and FY2025 earnings at $3.99 EPS.
Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $349.00 price objective on shares of Penumbra in a research note on Thursday, August 17th. Wells Fargo & Company raised their price target on Penumbra from $320.00 to $337.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. StockNews.com initiated coverage on shares of Penumbra in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Piper Sandler lowered their target price on shares of Penumbra from $335.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Finally, Morgan Stanley reduced their price objective on shares of Penumbra from $265.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $317.25.
Penumbra Stock Performance
Shares of NYSE:PEN opened at $235.50 on Tuesday. The firm has a fifty day simple moving average of $222.21 and a two-hundred day simple moving average of $273.17. Penumbra has a 52 week low of $180.93 and a 52 week high of $348.67. The company has a quick ratio of 3.41, a current ratio of 5.99 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.09 billion, a P/E ratio of 228.64 and a beta of 0.58.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its position in Penumbra by 0.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 19,179 shares of the company’s stock worth $4,267,000 after acquiring an additional 51 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in shares of Penumbra by 1.2% during the second quarter. Linden Thomas Advisory Services LLC now owns 4,867 shares of the company’s stock worth $1,675,000 after purchasing an additional 57 shares during the period. Lazard Asset Management LLC increased its holdings in Penumbra by 7.6% in the 3rd quarter. Lazard Asset Management LLC now owns 811 shares of the company’s stock worth $196,000 after buying an additional 57 shares during the period. Beacon Capital Management LLC raised its position in Penumbra by 281.0% during the 2nd quarter. Beacon Capital Management LLC now owns 80 shares of the company’s stock worth $28,000 after buying an additional 59 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its stake in Penumbra by 23.3% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 344 shares of the company’s stock valued at $1,554,000 after acquiring an additional 65 shares during the period. 88.18% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Penumbra
In other news, CEO Adam Elsesser sold 9,666 shares of Penumbra stock in a transaction on Monday, September 11th. The stock was sold at an average price of $298.76, for a total value of $2,887,814.16. The sale was disclosed in a filing with the SEC, which is available through this link. In other Penumbra news, CEO Adam Elsesser sold 9,666 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $298.76, for a total transaction of $2,887,814.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harpreet Grewal sold 340 shares of Penumbra stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $266.62, for a total transaction of $90,650.80. Following the completion of the transaction, the director now directly owns 9,320 shares in the company, valued at approximately $2,484,898.40. The disclosure for this sale can be found here. Insiders have sold a total of 22,090 shares of company stock valued at $5,664,240 over the last ninety days. 5.30% of the stock is owned by company insiders.
Penumbra, Inc, together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, SENDit, and PX SLIM brands.
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