The Vanguard Group, Inc. recently announced the acquisition of new stake in Penumbra Inc (NYSE:PEN). The institutional investor has increased its shareholding in the Healthcare company by 0.12% to 3.54 million shares with purchase of 4195.0 shares. This fresh investment now brings its stake to 9.18% valued currently at $891.62 million. In addition, BlackRock Fund Advisors raised its holdings by 0.11 million to 3.39 million shares. And Capital Research & Management Co has lifted its position by 3.01% or 78125.0 shares – to 2.68 million shares.
With over 0.45 million Penumbra Inc (PEN) shares trading Friday and a closing price of $258.39 on the day, the dollar volume was approximately $115.15 million. The shares have shown a negative half year performance of -17.95% and its price on 01/12/24 gained nearly 0.09%. Currently, there are 38.11M common shares owned by the public and among those 37.10M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for PEN have a consensus price objective of $277.29. The analysts have set the share’s price value over the next 12 months at a high of $320.00 and a low of $240.00. The average price target is 6.82% above its recent price level and a downside to the estimated low will see the stock lose -7.66% over that period. But an upside of 19.25% will see the stock hit the forecast high price target while median target price for the stock is $284.00.
Insiders at the company have transacted a total of 148 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 67,362 shares. Insider sales of the common stock occurred on 131 occasions, with total insider shares sold totaling 112,903 shares.
The top 3 mutual fund holders in Penumbra Inc are Fidelity Select Port. – Health Ca, iShares Core S&P Mid Cap ETF, and American Funds AMCAP Fund. Fidelity Select Port. – Health Ca owns 1.22 million shares of the company’s stock, all valued at over $306.88 million. The company bought an additional 100000.0 shares recently to bring their total holdings to about 3.16% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 1060.0 shares to see its total holdings expand to 1.17 million shares valued at over $294.97 million and representing 3.04% of the shares outstanding. American Funds AMCAP Fund sold 46526.0 shares to bring its total holdings to over 1.17 million shares at a value of $293.6 million. American Funds AMCAP Fund now owns shares totaling to 3.02% of the shares outstanding.
Shares of Penumbra Inc (NYSE: PEN) opened at $258.92, up $0.77 from a prior closing price of $258.15. The company’s stock has a 5-day price change of 11.47% and 32.43% over the past three months. PEN shares are trading 2.72% year to date (YTD), with the 12-month market performance up to 13.39% higher. It has a 12-month low price of $180.93 and touched a high of $348.67 over the same period. PEN has an average intraday trading volume of 418.05K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.99%, 12.95%, and -3.41% respectively.
Institutional ownership of Penumbra Inc (NYSE: PEN) shares accounts for 86.31% of the company’s 38.11M shares outstanding. Mutual fund holders own 23.33%, while other institutional holders and individual stakeholders account for 63.08% and 10.21% respectively.
It has a market capitalization of $9.97B and a beta (3y monthly) value of 0.54. The stock’s trailing 12-month PE ratio is 249.07, while the earnings-per-share (ttm) stands at $1.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.32% over the week and 3.50% over the month.
Analysts forecast that Penumbra Inc (PEN) will achieve an EPS of $0.7 for the current quarter, $0.54 for the next quarter and $2.84 for 2024. The lowest estimate earnings-per-share for the quarter is $0.57 while analysts give the company a high EPS estimate of $0.87. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 1169.66%, and 39.71% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Penumbra Inc (PEN) as a “Strong Buy” at a consensus score of 1.56. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 4 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PEN, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on September 06, 2023, with the firm’s price target at $265.
