Penumbra (NYSE:PEN) had its price target lifted by equities researchers at Wells Fargo & Co from $180.00 to $185.00 in a research note issued on Thursday, The Fly reports. The firm presently has an “outperform” rating on the stock. Wells Fargo & Co ‘s price target would suggest a potential upside of 14.11% from the company’s current price.
Other analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating on shares of Penumbra in a report on Wednesday, April 17th. ValuEngine upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a report on Friday, June 7th. Bank of America lifted their price target on shares of Penumbra from $150.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, June 13th. William Blair began coverage on shares of Penumbra in a report on Tuesday, May 21st. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Penumbra from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $167.14.
Get Penumbra alerts: NYSE:PEN opened at $162.12 on Thursday. The company has a market capitalization of $5.63 billion, a PE ratio of 317.88, a P/E/G ratio of 8.93 and a beta of 0.65. The firm has a fifty day moving average of $168.94. Penumbra has a twelve month low of $110.84 and a twelve month high of $185.70. The company has a current ratio of 6.10, a quick ratio of 4.34 and a debt-to-equity ratio of 0.11.
Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.10. The business had revenue of $128.44 million for the quarter, compared to analysts’ expectations of $123.09 million. Penumbra had a net margin of 2.51% and a return on equity of 5.84%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. Analysts predict that Penumbra will post 0.87 earnings per share for the current fiscal year.
In other news, CEO Adam Elsesser sold 8,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $171.84, for a total transaction of $1,374,720.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website . Also, Director Thomas Wilder sold 237 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $169.92, for a total transaction of $40,271.04. The disclosure for this sale can be found here . In the last quarter, insiders sold 39,412 shares of company stock worth $6,127,198. 9.60% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Botty Investors LLC purchased a new position in shares of Penumbra in the 1st quarter worth about $29,000. Manchester Capital Management LLC purchased a new position in Penumbra in the 1st quarter worth about $30,000. Gemmer Asset Management LLC raised its position in Penumbra by 1,005.1% in the 1st quarter. Gemmer Asset Management LLC now owns 431 shares of the company’s stock worth $63,000 after buying an additional 392 shares during the last quarter. Machina Capital S.A.S. purchased a new position in Penumbra in the 2nd quarter worth about $155,000. Finally, CENTRAL TRUST Co purchased a new position in Penumbra in the 2nd quarter worth about $171,000. Hedge funds and other own 90.22% of the company’s stock.
About Penumbra
Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States, Europe, Canada, Australia, Japan, and internationally. The company offers neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, DDC, and PX SLIM brands; aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the ACE and the 3D Revascularization Device brands.
Recommended Story: What is a back-end load?
