Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 61,600 Shares

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 61,600 shares of Penumbra stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the sale, the chief executive officer now owns 16,376 shares of the company’s stock, valued at approximately $4,644,069.84. This represents a 79.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, December 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00.

Penumbra Stock Down 0.9 %

Shares of NYSE:PEN opened at $275.07 on Friday. The company has a market capitalization of $10.59 billion, a PE ratio of 809.01, a P/E/G ratio of 2.83 and a beta of 0.53. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $310.00. The firm has a 50 day simple moving average of $267.39 and a 200-day simple moving average of $235.14.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, equities analysts predict that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Penumbra

Institutional investors have recently modified their holdings of the business. Employees Retirement System of Texas increased its stake in Penumbra by 31.9% in the 4th quarter. Employees Retirement System of Texas now owns 5,273 shares of the company’s stock valued at $1,252,000 after buying an additional 1,274 shares during the period. Jefferies Financial Group Inc. acquired a new position in Penumbra during the 4th quarter worth approximately $760,000. Polar Asset Management Partners Inc. increased its position in Penumbra by 10.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 122,126 shares of the company’s stock worth $29,002,000 after purchasing an additional 11,605 shares during the period. Cache Advisors LLC acquired a new position in Penumbra during the 4th quarter worth approximately $534,000. Finally, Public Employees Retirement System of Ohio increased its position in Penumbra by 6.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 22,399 shares of the company’s stock worth $5,319,000 after purchasing an additional 1,316 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on PEN. Citigroup lifted their price target on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. BTIG Research lifted their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on shares of Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Finally, Truist Financial lifted their price objective on shares of Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and a consensus target price of $292.64.

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.