Penumbra (NYSE:PEN) Raised to “Buy” at Wall Street Zen

Penumbra (NYSE:PEN) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

PEN has been the subject of several other reports. Citigroup decreased their price objective on shares of Penumbra from $320.00 to $285.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Robert W. Baird raised their price objective on shares of Penumbra from $283.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Wells Fargo & Company set a $290.00 price objective on shares of Penumbra in a research note on Wednesday, October 1st. Truist Financial set a $310.00 price objective on shares of Penumbra and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Finally, Needham & Company LLC set a $326.00 price objective on shares of Penumbra and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $303.44.

Penumbra Price Performance

NYSE PEN opened at $260.96 on Friday. The company has a current ratio of 6.75, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $259.23 and a 200 day simple moving average of $261.96. The company has a market cap of $10.18 billion, a P/E ratio of 69.40, a P/E/G ratio of 2.35 and a beta of 0.41. Penumbra has a 1 year low of $193.49 and a 1 year high of $310.00.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $339.46 million during the quarter, compared to the consensus estimate of $327.37 million. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. Penumbra’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Penumbra has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Penumbra will post 3.67 EPS for the current year.

Insider Transactions at Penumbra

In related news, Director Thomas Wilder sold 372 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $240.16, for a total value of $89,339.52. Following the completion of the transaction, the director directly owned 372 shares of the company’s stock, valued at $89,339.52. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Elsesser sold 16,150 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $233.16, for a total value of $3,765,534.00. Following the completion of the transaction, the chief executive officer directly owned 146,258 shares of the company’s stock, valued at approximately $34,101,515.28. This trade represents a 9.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,610 shares of company stock valued at $20,088,148 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PEN. Synergy Investment Management LLC bought a new position in Penumbra in the first quarter worth $27,000. First Horizon Advisors Inc. lifted its holdings in shares of Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock valued at $28,000 after acquiring an additional 85 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Penumbra during the second quarter valued at $30,000. Parkside Financial Bank & Trust lifted its holdings in shares of Penumbra by 70.2% during the second quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock valued at $41,000 after acquiring an additional 66 shares during the period. Finally, State of Wyoming bought a new position in shares of Penumbra during the second quarter valued at $64,000. 88.88% of the stock is owned by institutional investors.

About Penumbra

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.