Penumbra (NYSE:PEN) Raised to “Strong-Buy” at Wall Street Zen

Penumbra (NYSE:PEN) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Other analysts have also issued reports about the company. Stifel Nicolaus set a $318.00 price target on Penumbra and gave the company a “buy” rating in a research note on Thursday, April 24th. Bank of America started coverage on shares of Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley upped their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Finally, UBS Group reiterated a “buy” rating and set a $330.00 price target (up previously from $320.00) on shares of Penumbra in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $302.40.

Penumbra Stock Performance

NYSE PEN opened at $256.30 on Friday. The firm’s fifty day moving average price is $275.71 and its two-hundred day moving average price is $267.43. The stock has a market cap of $9.93 billion, a PE ratio of 753.82, a PEG ratio of 2.83 and a beta of 0.49. Penumbra has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.17. The company had revenue of $324.14 million for the quarter, compared to the consensus estimate of $315.72 million. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. Penumbra’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. On average, equities analysts expect that Penumbra will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Johanna Roberts sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $269.11, for a total transaction of $161,466.00. Following the completion of the sale, the executive vice president now owns 66,353 shares of the company’s stock, valued at $17,856,255.83. This trade represents a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam Elsesser sold 15,910 shares of Penumbra stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $253.67, for a total transaction of $4,035,889.70. Following the completion of the sale, the chief executive officer now owns 110,355 shares of the company’s stock, valued at $27,993,752.85. This represents a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,755 shares of company stock valued at $40,395,871 over the last quarter. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Penumbra by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,574 shares of the company’s stock worth $64,493,000 after purchasing an additional 3,807 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Penumbra during the 4th quarter worth about $3,553,000. HighTower Advisors LLC boosted its position in shares of Penumbra by 3.2% during the 4th quarter. HighTower Advisors LLC now owns 5,980 shares of the company’s stock worth $1,420,000 after purchasing an additional 188 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Penumbra in the 4th quarter valued at about $221,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in Penumbra by 3.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,867 shares of the company’s stock valued at $681,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.