Insider Selling: Penumbra (NYSE:PEN) CFO Sells 2,432 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CFO Maggie Yuen sold 2,432 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $342.30, for a total transaction of $832,473.60. Following the completion of the sale, the chief financial officer directly owned 18,353 shares in the company, valued at approximately $6,282,231.90. This represents a 11.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Penumbra Trading Down 0.2%

PEN stock traded down $0.59 during midday trading on Wednesday, hitting $339.57. The stock had a trading volume of 721,659 shares, compared to its average volume of 1,222,446. The company has a current ratio of 6.64, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $337.02 and a two-hundred day moving average price of $293.94. Penumbra, Inc. has a 1-year low of $221.26 and a 1-year high of $362.41. The firm has a market cap of $13.33 billion, a P/E ratio of 75.13, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.06. Penumbra had a return on equity of 11.41% and a net margin of 12.66%.The firm had revenue of $385.39 million during the quarter, compared to analyst estimates of $367.18 million. During the same period last year, the company posted $0.97 EPS. The business’s quarterly revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PEN shares. Leerink Partners downgraded shares of Penumbra from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Bank of America boosted their target price on Penumbra from $320.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Evercore reiterated an “outperform” rating and issued a $360.00 price target on shares of Penumbra in a report on Wednesday, February 25th. Piper Sandler downgraded Penumbra from an “overweight” rating to a “hold” rating and set a $374.00 price objective for the company. in a report on Thursday, January 15th. Finally, Canaccord Genuity Group lowered Penumbra from a “buy” rating to a “hold” rating and upped their target price for the stock from $359.00 to $374.00 in a research report on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, Penumbra has an average rating of “Hold” and a consensus price target of $361.69.

Institutional Trading of Penumbra

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its position in shares of Penumbra by 35.8% during the 1st quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock valued at $5,169,000 after purchasing an additional 5,092 shares during the last quarter. Spire Wealth Management bought a new position in Penumbra during the second quarter valued at about $91,000. State of Michigan Retirement System increased its holdings in Penumbra by 1.1% during the second quarter. State of Michigan Retirement System now owns 9,314 shares of the company’s stock worth $2,390,000 after buying an additional 100 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in Penumbra during the second quarter worth about $369,000. Finally, Genus Capital Management Inc. bought a new stake in Penumbra in the second quarter worth about $1,383,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.