Penumbra (NYSE:PEN - Get Free Report) had its price objective raised by equities researchers at Canaccord Genuity Group from $323.00 to $340.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 12.87% from the stock's current price.
A number of other brokerages also recently commented on PEN. Robert W. Baird boosted their price objective on Penumbra from $305.00 to $328.00 and gave the stock an "outperform" rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on Penumbra from $275.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday. Needham & Company LLC restated a "hold" rating on shares of Penumbra in a research note on Wednesday. Citigroup boosted their target price on Penumbra from $220.00 to $245.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 11th. Finally, Morgan Stanley boosted their target price on Penumbra from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $280.79.
Read Our Latest Analysis on Penumbra
PEN traded up $30.08 on Wednesday, hitting $301.22. The company had a trading volume of 503,632 shares, compared to its average volume of 477,985. The firm has a market cap of $11.56 billion, a P/E ratio of 347.89, a PEG ratio of 1.97 and a beta of 0.53. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company's fifty day moving average price is $256.15 and its 200 day moving average price is $225.97. Penumbra has a 1 year low of $148.00 and a 1 year high of $304.74.
Penumbra (NYSE:PEN - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. As a group, equities analysts expect that Penumbra will post 2.81 earnings per share for the current year.
In related news, CAO Lambert Shiu sold 1,798 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $242.56, for a total transaction of $436,122.88. Following the transaction, the chief accounting officer now directly owns 20,682 shares in the company, valued at approximately $5,016,625.92. This represents a 8.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Harpreet Grewal sold 167 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the transaction, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,219 shares of company stock valued at $4,426,439. Insiders own 5.00% of the company's stock.
A number of large investors have recently modified their holdings of PEN. Janus Henderson Group PLC raised its holdings in shares of Penumbra by 128.1% in the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company's stock worth $129,967,000 after purchasing an additional 375,684 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Penumbra by 3,832.3% in the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company's stock valued at $71,564,000 after buying an additional 358,932 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company's stock valued at $300,786,000 after buying an additional 264,122 shares in the last quarter. Norges Bank acquired a new stake in shares of Penumbra in the fourth quarter valued at about $54,396,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Penumbra by 47.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company's stock valued at $167,913,000 after buying an additional 227,506 shares in the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.
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.
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