Penumbra (NYSE:PEN) Price Target Raised to $325.00 at Truist Financial

Penumbra (NYSE:PEN) had its target price raised by Truist Financial from $285.00 to $325.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday. Citigroup upped their price target on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Royal Bank of Canada upped their price target on Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group upped their price target on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Canaccord Genuity Group upped their price target on Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $292.64.

Penumbra Trading Down 3.5 %

Shares of NYSE:PEN opened at $292.52 on Wednesday. Penumbra has a 1 year low of $148.00 and a 1 year high of $310.00. The stock’s fifty day moving average price is $258.16 and its 200-day moving average price is $227.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The company has a market cap of $11.27 billion, a P/E ratio of 860.35, a PEG ratio of 2.23 and a beta of 0.53.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. Sell-side analysts expect that Penumbra will post 3.86 earnings per share for the current year.

Insider Activity

In related news, 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 transaction, the chief accounting officer now directly owns 20,682 shares in the company, valued at $5,016,625.92. The trade was a 8.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total value of $146,694.00. Following the transaction, the executive vice president now owns 63,444 shares in the company, valued at approximately $15,511,423.56. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,219 shares of company stock worth $4,426,439. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its position in Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after acquiring an additional 375,684 shares during the period. Thrivent Financial for Lutherans lifted its position in Penumbra by 3,832.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after acquiring an additional 358,932 shares during the period. Champlain Investment Partners LLC lifted its position in Penumbra by 20.6% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after acquiring an additional 264,122 shares during the period. Norges Bank acquired a new stake in Penumbra during the 4th quarter worth about $54,396,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in Penumbra by 47.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock worth $167,913,000 after acquiring an additional 227,506 shares during the period. 88.88% of the stock is currently owned by hedge funds and other 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.