Fintel reports that on December 11, 2024, Wells Fargo upgraded their outlook for Penumbra (NYSE:PEN) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 5.31% Downside
As of December 3, 2024, the average one-year price target for Penumbra is $240.21/share. The forecasts range from a low of $191.90 to a high of $275.10. The average price target represents a decrease of 5.31% from its latest reported closing price of $253.67 / share.
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The projected annual revenue for Penumbra is 1,164MM, an increase of 0.02%. The projected annual non-GAAP EPS is 2.12.
What is the Fund Sentiment?
There are 821 funds or institutions reporting positions in Penumbra. This is an increase of 8 owner(s) or 0.98% in the last quarter. Average portfolio weight of all funds dedicated to PEN is 0.18%, an increase of 2.88%. Total shares owned by institutions increased in the last three months by 4.19% to 43,873K shares. 
The put/call ratio of PEN is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 1,985K shares representing 5.17% ownership of the company. In its prior filing, the firm reported owning 3,026K shares , representing a decrease of 52.40%. The firm decreased its portfolio allocation in PEN by 65.97% over the last quarter.
Champlain Investment Partners holds 1,548K shares representing 4.03% ownership of the company. In its prior filing, the firm reported owning 1,284K shares , representing an increase of 17.06%. The firm increased its portfolio allocation in PEN by 28.33% over the last quarter.
FSPHX - Health Care Portfolio holds 1,350K shares representing 3.52% ownership of the company. In its prior filing, the firm reported owning 1,279K shares , representing an increase of 5.30%. The firm increased its portfolio allocation in PEN by 5.36% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,214K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 1,206K shares , representing an increase of 0.70%. The firm decreased its portfolio allocation in PEN by 0.69% over the last quarter.
FSMEX - Medical Technology and Devices Portfolio holds 1,210K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 1,134K shares , representing an increase of 6.31%. The firm increased its portfolio allocation in PEN by 14.72% over the last quarter.
Penumbra Background Information
(This description is provided by the company.)
Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures and markets novel products and has a broad portfolio that addresses challenging medical conditions in markets with significant unmet need. Penumbra sells its products to hospitals and healthcare providers primarily through its direct sales organization in the U.S., most of Europe, Canada and Australia, and through distributors in select international markets. Penumbra, the Penumbra P logo, Indigo, CAT, Separator, Lightning, and Penumbra ENGINE are trademarks of Penumbra, Inc.
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