Truist Financial Lowers Penumbra (NYSE:PEN) Price Target to $315.00

Penumbra (NYSE:PEN) had its target price cut by analysts at Truist Financial from $325.00 to $315.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 15.62% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Penumbra from $285.00 to $313.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Canaccord Genuity Group increased their target price on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Oppenheimer assumed coverage on Penumbra in a research report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 target price on the stock. Robert W. Baird upped their price target on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, UBS Group increased their price target on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $293.80.

Penumbra Stock Performance

NYSE PEN opened at $272.44 on Friday. The firm has a market capitalization of $10.54 billion, a P/E ratio of 801.28, a PEG ratio of 2.83 and a beta of 0.56. The stock has a 50-day simple moving average of $274.33 and a two-hundred day simple moving average of $248.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $310.00.

Penumbra (NYSE:PEN) last announced its quarterly 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 return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. On average, equities analysts forecast that Penumbra will post 3.67 earnings per share for the current year.

Insider Activity

In other news, Director Thomas Wilder sold 360 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $266.93, for a total value of $96,094.80. Following the completion of the sale, the director now directly owns 4,692 shares in the company, valued at $1,252,435.56. This represents a 7.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $287.43, for a total value of $172,458.00. Following the transaction, the executive vice president now owns 66,539 shares in the company, valued at approximately $19,125,304.77. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,236 shares of company stock worth $31,222,390 over the last three months. Insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank n.a. grew its holdings in shares of Penumbra by 57.4% in the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the period. Hurley Capital LLC acquired a new position in Penumbra in the 4th quarter valued at about $56,000. Huntington National Bank grew its stake in shares of Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after buying an additional 154 shares during the period. Mather Group LLC. increased its holdings in shares of Penumbra by 208.0% during the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Penumbra by 893.5% during the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock valued at $82,000 after buying an additional 277 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

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.