Equity Management

Penumbra (NYSE:PEN) Price Target Increased to $250.00 by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upped their price target on shares of Penumbra from $202.00 to $250.00 in a research report on Tuesday.

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Feb 3, 2023 • 4 min read

Penumbra (NYSE:PEN - Get Rating) had its price target hoisted by equities research analysts at Deutsche Bank Aktiengesellschaft from $202.00 to $250.00 in a report released on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 12.38% from the stock's previous close.

A number of other research firms also recently weighed in on PEN. Canaccord Genuity Group reduced their target price on shares of Penumbra from $203.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, November 4th. Citigroup upped their price target on shares of Penumbra from $212.00 to $270.00 and gave the company a "buy" rating in a report on Monday, December 12th. StockNews.com downgraded shares of Penumbra from a "hold" rating to a "sell" rating in a report on Wednesday, November 23rd. Needham & Company LLC cut their price target on shares of Penumbra from $244.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, November 4th. Finally, Royal Bank of Canada upped their price target on shares of Penumbra from $195.00 to $215.00 in a report on Monday, November 14th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Penumbra has a consensus rating of "Moderate Buy" and a consensus price target of $238.55.

Penumbra Stock Up 0.3 %

Shares of PEN stock opened at $222.46 on Tuesday. The stock has a market cap of $8.45 billion, a P/E ratio of -271.29 and a beta of 0.48. Penumbra has a 52 week low of $114.86 and a 52 week high of $290.36. The company has a quick ratio of 2.92, a current ratio of 5.23 and a debt-to-equity ratio of 0.03. The company's fifty day simple moving average is $200.44 and its two-hundred day simple moving average is $174.48.

Penumbra (NYSE:PEN - Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. Penumbra had a negative net margin of 3.68% and a positive return on equity of 0.45%. The firm had revenue of $213.68 million for the quarter, compared to the consensus estimate of $212.41 million. Analysts predict that Penumbra will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Johanna Roberts sold 1,500 shares of the company's stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $194.48, for a total value of $291,720.00. Following the completion of the sale, the executive vice president now owns 55,496 shares of the company's stock, valued at approximately $10,792,862.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Penumbra

Hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Penumbra by 22.0% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,078 shares of the company's stock worth $2,500,000 after purchasing an additional 3,620 shares during the period. Illinois Municipal Retirement Fund lifted its position in Penumbra by 67.0% during the second quarter. Illinois Municipal Retirement Fund now owns 10,793 shares of the company's stock valued at $1,344,000 after acquiring an additional 4,330 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Penumbra during the first quarter valued at approximately $258,000. Diversified Trust Co lifted its position in Penumbra by 33.6% during the third quarter. Diversified Trust Co now owns 4,914 shares of the company's stock valued at $932,000 after acquiring an additional 1,235 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Penumbra by 21.4% during the second quarter. Principal Financial Group Inc. now owns 144,967 shares of the company's stock valued at $18,051,000 after acquiring an additional 25,545 shares during the last quarter. Hedge funds and other institutional investors own 82.42% of the company's stock.

About Penumbra

Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.