Penumbra Inc (PEN) Given Average Recommendation of “Buy” by Brokerages
Shares of Penumbra Inc (NYSE:PEN) have received a consensus rating of “Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $143.43.
Several research analysts recently issued reports on PEN shares. Canaccord Genuity raised their target price on shares of Penumbra from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, January 30th. Zacks Investment Research upgraded shares of Penumbra from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a report on Wednesday, November 7th. ValuEngine upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a report on Monday, February 4th. BMO Capital Markets increased their price objective on shares of Penumbra from $150.00 to $152.00 and gave the company a “market perform” rating in a research note on Tuesday, November 6th. Finally, Bank of America reissued a “buy” rating and issued a $36.00 price objective on shares of Penumbra in a research note on Monday, October 29th.
In other Penumbra news, Director Harpreet Grewal sold 666 shares of the firm’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $121.27, for a total transaction of $80,765.82. Following the sale, the director now directly owns 13,247 shares of the company’s stock, valued at approximately $1,606,463.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bridget O’rourke sold 1,200 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $142.19, for a total transaction of $170,628.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,952 shares of company stock worth $399,839. 10.70% of the stock is owned by corporate insiders.
PEN stock traded up $3.21 during mid-day trading on Wednesday, reaching $150.70. The company had a trading volume of 121,021 shares, compared to its average volume of 267,097. The company 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 12 month low of $88.80 and a 12 month high of $167.35.
Penumbra Company Profile
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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