Shares of Penumbra Inc (NYSE:PEN) have earned an average rating of “Hold” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $111.50.
Several equities analysts have recently weighed in on PEN shares. JPMorgan Chase & Co. lowered shares of Penumbra from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Penumbra from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. BMO Capital Markets lowered shares of Penumbra from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $117.00 to $110.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Canaccord Genuity raised their price objective on shares of Penumbra from $100.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, William Blair started coverage on shares of Penumbra in a research report on Wednesday. They set an “outperform” rating for the company.
Penumbra (PEN) traded up $0.85 during trading hours on Wednesday, hitting $100.20. 2,741 shares of the stock traded hands, compared to its average volume of 276,400. Penumbra has a one year low of $74.15 and a one year high of $116.35. The company has a market cap of $3,349.74, a price-to-earnings ratio of -451.59, a price-to-earnings-growth ratio of 105.75 and a beta of 0.19.
In other Penumbra news, insider Daniel Donen Davis sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $88.80, for a total value of $2,664,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam Elsesser sold 10,135 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $105.10, for a total transaction of $1,065,188.50. Following the completion of the transaction, the chief executive officer now owns 1,133,672 shares of the company’s stock, valued at $119,148,927.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,339 shares of company stock valued at $11,947,140. Corporate insiders own 13.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PEN. Carillon Tower Advisers Inc. acquired a new position in shares of Penumbra in the fourth quarter worth about $33,998,000. Victory Capital Management Inc. acquired a new position in shares of Penumbra in the third quarter worth about $24,232,000. Citadel Advisors LLC boosted its holdings in shares of Penumbra by 149.8% in the third quarter. Citadel Advisors LLC now owns 123,799 shares of the company’s stock worth $11,179,000 after buying an additional 74,231 shares during the period. Baillie Gifford & Co. acquired a new position in shares of Penumbra in the third quarter worth about $6,201,000. Finally, State Street Corp boosted its holdings in shares of Penumbra by 13.2% in the second quarter. State Street Corp now owns 579,911 shares of the company’s stock worth $50,887,000 after buying an additional 67,441 shares during the period. Institutional investors own 71.09% of the company’s stock.
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Penumbra Company Profile
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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