Penumbra (NYSE:PEN) Price Target Raised to $285.00 at JPMorgan Chase & Co.

Penumbra (NYSE:PEN) had its price target increased by JPMorgan Chase & Co. from $230.00 to $285.00 in a research note released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PEN has been the topic of several other research reports. Oppenheimer began coverage on Penumbra in a report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Wells Fargo & Company raised their price objective on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday. UBS Group lifted their target price on Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley lifted their target price on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Penumbra Trading Up 12.0 %

Shares of PEN opened at $303.55 on Wednesday. Penumbra has a 52-week low of $148.00 and a 52-week high of $310.00. The business’s fifty day moving average is $256.15 and its 200-day moving average is $225.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 352.97, a PEG ratio of 1.97 and a beta of 0.53.

Penumbra (NYSE:PEN) last released its quarterly earnings data 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 8.99% and a net margin of 2.97%. The company had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. Equities analysts anticipate that Penumbra will post 2.81 EPS for the current fiscal year.

Insider Transactions at Penumbra

In other news, Director Harpreet Grewal sold 167 shares of Penumbra stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now directly owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $244.49, for a total value of $146,694.00. Following the completion of the transaction, the executive vice president now directly owns 63,444 shares of the company’s stock, 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 ninety days, insiders sold 18,219 shares of company stock valued at $4,426,439. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Penumbra

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Penumbra by 2.1% in the 3rd quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after buying an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC increased its position in Penumbra by 20.6% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after buying an additional 264,122 shares in the last quarter. State Street Corp increased its position in Penumbra by 0.3% in the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after buying an additional 3,863 shares in the last quarter. RTW Investments LP increased its position in Penumbra by 8.4% in the 4th quarter. RTW Investments LP now owns 862,450 shares of the company’s stock valued at $204,815,000 after buying an additional 66,700 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in Penumbra by 23.4% in the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after buying an additional 138,387 shares in the last quarter. 88.88% of the stock is owned by 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.