Penumbra (NYSE:PEN) Reaches New 1-Year High – Time to Buy?

Penumbra, Inc. (NYSE:PEN)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $356.65 and last traded at $355.8310, with a volume of 3182840 shares trading hands. The stock had previously closed at $350.78.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial downgraded shares of Penumbra from a “buy” rating to a “hold” rating and lifted their target price for the stock from $370.00 to $374.00 in a report on Friday, January 16th. William Blair lowered Penumbra from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 15th. Needham & Company LLC cut Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Bank of America increased their target price on Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Finally, Piper Sandler lowered shares of Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 target price on the stock. in a research report on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $358.00.

Penumbra Trading Up 0.4%

The company’s fifty day moving average price is $309.82 and its two-hundred day moving average price is $272.45. The company has a quick ratio of 4.18, a current ratio of 6.73 and a debt-to-equity ratio of 0.02. The company has a market cap of $14.06 billion, a price-to-earnings ratio of 85.90, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The company had revenue of $354.69 million during the quarter, compared to analyst estimates of $340.77 million. During the same period last year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. Research analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Insider Transactions at Penumbra

In related news, Director Thomas Wilder sold 186 shares of Penumbra stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $310.72, for a total value of $57,793.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harpreet Grewal sold 186 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $227.58, for a total transaction of $42,329.88. Following the transaction, the director owned 8,516 shares in the company, valued at approximately $1,938,071.28. The trade was a 2.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,144 shares of company stock worth $10,260,127 in the last ninety days. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Penumbra

A number of institutional investors have recently bought and sold shares of PEN. Mather Group LLC. bought a new position in shares of Penumbra in the 3rd quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Penumbra in the 2nd quarter valued at approximately $30,000. Rothschild Investment LLC bought a new position in Penumbra during the 3rd quarter worth approximately $40,000. Parkside Financial Bank & Trust boosted its stake in Penumbra by 70.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 160 shares of the company’s stock worth $41,000 after acquiring an additional 66 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Penumbra by 53.0% during the third quarter. Covestor Ltd now owns 179 shares of the company’s stock valued at $46,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.