Shares of Penumbra, Inc. (NYSE:PEN – Get Free Report) gapped down before the market opened on Friday after Truist Financial lowered their price target on the stock from $300.00 to $290.00. The stock had previously closed at $262.68, but opened at $239.24. Truist Financial currently has a buy rating on the stock. Penumbra shares last traded at $240.35, with a volume of 335,903 shares.
A number of other research firms have also recently weighed in on PEN. Piper Sandler cut their price target on Penumbra from $335.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. TheStreet raised Penumbra from a “d+” rating to a “c-” rating in a report on Friday, January 12th. JPMorgan Chase & Co. cut Penumbra from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $284.00 to $250.00 in a report on Friday. Morgan Stanley dropped their target price on Penumbra from $265.00 to $240.00 and set an “equal weight” rating on the stock in a report on Friday, November 3rd. Finally, Royal Bank of Canada boosted their target price on Penumbra from $248.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, January 11th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $300.83.
Insider Buying and Selling
In other Penumbra news, Director Bridget O’rourke sold 150 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $226.41, for a total value of $33,961.50. Following the transaction, the director now directly owns 4,214 shares of the company’s stock, valued at approximately $954,091.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Penumbra news, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $226.42, for a total value of $135,852.00. Following the transaction, the executive vice president now directly owns 62,251 shares of the company’s stock, valued at approximately $14,094,871.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bridget O’rourke sold 150 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $226.41, for a total value of $33,961.50. Following the sale, the director now owns 4,214 shares of the company’s stock, valued at approximately $954,091.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 835 shares of company stock worth $190,866. Corporate insiders own 5.30% of the company’s stock.
Institutional Trading of Penumbra
Several large investors have recently made changes to their positions in PEN. Raymond James & Associates boosted its stake in Penumbra by 8.1% during the 1st quarter. Raymond James & Associates now owns 8,565 shares of the company’s stock valued at $1,903,000 after purchasing an additional 641 shares during the period. Citigroup Inc. boosted its stake in Penumbra by 44.5% during the 1st quarter. Citigroup Inc. now owns 4,979 shares of the company’s stock valued at $1,106,000 after purchasing an additional 1,534 shares during the period. PNC Financial Services Group Inc. boosted its stake in Penumbra by 15.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,211 shares of the company’s stock valued at $269,000 after purchasing an additional 164 shares during the period. Great West Life Assurance Co. Can boosted its stake in Penumbra by 8.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 19,045 shares of the company’s stock valued at $4,348,000 after purchasing an additional 1,417 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Penumbra by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 90,610 shares of the company’s stock valued at $20,123,000 after purchasing an additional 2,717 shares during the period. Institutional investors own 88.18% of the company’s stock.
Penumbra Stock Performance
The firm has a fifty day simple moving average of $255.62 and a 200 day simple moving average of $241.54. The company has a current ratio of 5.99, a quick ratio of 3.41 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.28 billion, a price-to-earnings ratio of 237.95 and a beta of 0.54.
Penumbra (NYSE:PEN – Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Penumbra had a return on equity of 5.54% and a net margin of 4.08%. The firm had revenue of $284.68 million during the quarter, compared to analysts’ expectations of $286.62 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. As a group, sell-side analysts expect that Penumbra, Inc. will post 2.04 earnings per share for the current year.
About Penumbra
Penumbra, Inc, together with its subsidiairies, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, SENDit, and PX SLIM brands.