Penumbra Inc (PEN) Given Consensus Rating of “Buy” by Brokerages

Penumbra Inc (NYSE:PEN) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $143.43.

A number of equities research analysts recently weighed in on PEN shares. Bank of America restated a “buy” rating and set a $36.00 price objective on shares of Penumbra in a research report on Monday, October 29th. BMO Capital Markets raised their price target on Penumbra from $150.00 to $152.00 and gave the stock a “market perform” rating in a report on Tuesday, November 6th. Zacks Investment Research lowered Penumbra from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. ValuEngine raised Penumbra from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Canaccord Genuity raised their price target on Penumbra from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, January 30th.

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In related news, Director Harpreet Grewal sold 666 shares of the stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $121.27, for a total value of $80,765.82. Following the sale, the director now owns 13,247 shares in the company, valued at $1,606,463.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Don W. Kassing sold 1,086 shares of the stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $136.69, for a total value of $148,445.34. Following the completion of the sale, the director now owns 2,487 shares in the company, valued at approximately $339,948.03. The disclosure for this sale can be found here. Insiders sold 2,952 shares of company stock worth $399,839 in the last quarter. 10.70% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in shares of Penumbra by 16.3% during the third quarter. Wells Fargo & Company MN now owns 34,160 shares of the company’s stock valued at $5,115,000 after buying an additional 4,794 shares during the last quarter. Vanguard Group Inc. raised its stake in Penumbra by 2.7% during the third quarter. Vanguard Group Inc. now owns 2,646,066 shares of the company’s stock worth $396,116,000 after purchasing an additional 68,479 shares during the period. Marshall Wace LLP purchased a new position in Penumbra during the third quarter worth about $8,630,000. Asymmetry Capital Management L.P. purchased a new position in Penumbra during the third quarter worth about $1,974,000. Finally, First Republic Investment Management Inc. raised its stake in Penumbra by 27.2% during the third quarter. First Republic Investment Management Inc. now owns 18,564 shares of the company’s stock worth $2,779,000 after purchasing an additional 3,966 shares during the period. Institutional investors own 72.22% of the company’s stock.

PEN stock traded up $3.21 during midday trading on Wednesday, reaching $150.70. 121,021 shares of the stock were exchanged, compared to its average volume of 267,097. The firm has a market capitalization of $5.09 billion, a P/E ratio of -15,070.00, a P/E/G ratio of 10.15 and a beta of 0.85. Penumbra has a 52 week low of $88.80 and a 52 week high of $167.35.

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.

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