Penumbra, Inc. (NYSE:PEN) CEO Sells $3,014,700.00 in Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the completion of the sale, the chief executive officer now directly owns 942,582 shares of the company’s stock, valued at $189,440,130.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Penumbra Stock Up 1.5 %

PEN stock opened at $193.59 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.12 and a quick ratio of 3.51. Penumbra, Inc. has a fifty-two week low of $180.93 and a fifty-two week high of $348.67. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 81.68, a PEG ratio of 2.02 and a beta of 0.57. The business’s fifty day moving average price is $211.88 and its two-hundred day moving average price is $232.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $278.70 million during the quarter, compared to the consensus estimate of $274.94 million. Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. On average, equities analysts anticipate that Penumbra, Inc. will post 2.87 earnings per share for the current year.

Analyst Ratings Changes

PEN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of Penumbra from an “overweight” rating to a “neutral” rating and cut their price target for the company from $284.00 to $250.00 in a report on Friday, February 23rd. Truist Financial reduced their price target on shares of Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $289.00 price objective on shares of Penumbra in a report on Friday, February 23rd. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, May 8th. Finally, Canaccord Genuity Group lowered their price target on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.64.

Institutional Trading of Penumbra

Several large investors have recently bought and sold shares of PEN. Champlain Investment Partners LLC boosted its stake in shares of Penumbra by 131.8% during the first quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after purchasing an additional 616,700 shares in the last quarter. Norges Bank bought a new stake in Penumbra in the fourth quarter worth approximately $85,222,000. Rock Springs Capital Management LP increased its holdings in shares of Penumbra by 37.6% during the third quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company’s stock valued at $121,862,000 after acquiring an additional 137,750 shares in the last quarter. Braidwell LP increased its holdings in shares of Penumbra by 133.7% during the fourth quarter. Braidwell LP now owns 222,792 shares of the company’s stock valued at $56,041,000 after acquiring an additional 127,477 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Penumbra by 12.2% during the first quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock valued at $186,066,000 after acquiring an additional 90,444 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.

Penumbra Company Profile

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.