Penumbra (NYSE:PEN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Penumbra (NYSE:PEN) from a hold rating to a buy rating in a report issued on Saturday.

PEN has been the subject of a number of other research reports. Needham & Company LLC set a $326.00 price objective on Penumbra and gave the company a “buy” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on Penumbra from $330.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. William Blair raised shares of Penumbra to a “strong-buy” rating in a research note on Friday, July 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on shares of Penumbra from $260.00 to $266.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $303.44.

Penumbra Stock Performance

NYSE:PEN opened at $253.02 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 4.04. The firm has a market cap of $9.87 billion, a PE ratio of 67.29, a P/E/G ratio of 2.35 and a beta of 0.41. The firm has a 50 day simple moving average of $259.47 and a 200-day simple moving average of $261.86. Penumbra has a 1-year low of $198.68 and a 1-year high of $310.00.

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

Insider Activity

In related news, Director Thomas Wilder sold 186 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $253.93, for a total value of $47,230.98. Following the transaction, the director owned 186 shares in the company, valued at approximately $47,230.98. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam Elsesser sold 15,800 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $269.65, for a total transaction of $4,260,470.00. Following the sale, the chief executive officer owned 182,460 shares of the company’s stock, valued at approximately $49,200,339. This represents a 7.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,610 shares of company stock worth $20,088,148. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Penumbra by 5.0% in the second quarter. Vanguard Group Inc. now owns 3,860,655 shares of the company’s stock valued at $990,760,000 after purchasing an additional 185,306 shares during the period. Geode Capital Management LLC lifted its holdings in Penumbra by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 706,404 shares of the company’s stock worth $181,314,000 after buying an additional 17,772 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Penumbra by 437.0% in the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock valued at $188,159,000 after buying an additional 572,606 shares during the last quarter. Invesco Ltd. grew its stake in shares of Penumbra by 1,139.3% during the second quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after acquiring an additional 582,369 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Penumbra during the second quarter worth about $114,014,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.