Shares of Penumbra, Inc. (NYSE:PEN – Get Free Report) hit a new 52-week low during trading on Wednesday after BTIG Research lowered their price target on the stock from $232.00 to $187.00. BTIG Research currently has a buy rating on the stock. Penumbra traded as low as $149.85 and last traded at $158.00, with a volume of 241522 shares trading hands. The stock had previously closed at $173.09.
A number of other brokerages also recently issued reports on PEN. Wells Fargo & Company downgraded shares of Penumbra from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $289.00 to $150.00 in a research note on Wednesday. Morgan Stanley cut their target price on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday. Truist Financial restated a “buy” rating and set a $200.00 price target (down previously from $230.00) on shares of Penumbra in a report on Wednesday. Finally, Royal Bank of Canada lowered their price objective on shares of Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and a consensus target price of $193.60.
Insider Buying and Selling
In related news, EVP Johanna Roberts sold 600 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $207.41, for a total value of $124,446.00. Following the sale, the executive vice president now directly owns 63,488 shares in the company, valued at approximately $13,168,046.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $207.41, for a total value of $124,446.00. Following the transaction, the executive vice president now directly owns 63,488 shares in the company, valued at $13,168,046.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam Elsesser sold 15,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.98, for a total value of $3,014,700.00. Following the sale, the chief executive officer now directly owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,970 shares of company stock valued at $6,428,404. 5.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its stake in Penumbra by 171.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after acquiring an additional 67 shares during the last quarter. Mather Group LLC. bought a new position in shares of Penumbra during the 1st quarter worth $29,000. Signaturefd LLC boosted its position in Penumbra by 27.2% during the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after purchasing an additional 46 shares in the last quarter. WASHINGTON TRUST Co bought a new stake in Penumbra during the second quarter valued at about $54,000. Finally, Quest Partners LLC purchased a new stake in Penumbra in the fourth quarter valued at about $71,000. 88.88% of the stock is owned by hedge funds and other institutional investors.
Penumbra Stock Performance
The company has a market capitalization of $6.59 billion, a PE ratio of 71.78, a PEG ratio of 1.80 and a beta of 0.55. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. The business has a 50 day simple moving average of $185.60 and a 200 day simple moving average of $215.83.
Penumbra (NYSE:PEN – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. The company had revenue of $299.40 million for the quarter, compared to analyst estimates of $298.24 million. Penumbra had a return on equity of 7.83% and a net margin of 8.52%. Penumbra’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. Equities research analysts predict that Penumbra, Inc. will post 2.88 EPS for the current fiscal year.
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.