Penumbra, Inc. (NYSE:PEN) CEO Sells $3,644,400.00 in Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the transaction, the chief executive officer now directly owns 837,582 shares of the company’s stock, valued at approximately $203,498,922.72. This represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Adam Elsesser also recently made the following trade(s):

• On Wednesday, November 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $237.28, for a total transaction of $3,559,200.00.
• On Monday, October 21st, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00.

Penumbra Trading Down 0.1 %

PEN opened at $240.36 on Thursday. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The business has a 50 day simple moving average of $233.41 and a two-hundred day simple moving average of $204.44. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 279.49, a PEG ratio of 2.47 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. Analysts predict that Penumbra, Inc. will post 2.81 EPS for the current year.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of research reports. Leerink Partnrs upgraded Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Robert W. Baird upped their target price on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Leerink Partners started coverage on shares of Penumbra in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price target on the stock. Canaccord Genuity Group upped their price objective on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, BTIG Research lifted their target price on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC purchased a new position in shares of Penumbra in the 3rd quarter valued at approximately $26,000. GAMMA Investing LLC raised its holdings in Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Park Place Capital Corp lifted its position in Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after buying an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after buying an additional 369 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after buying an additional 43 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

About Penumbra

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.