Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 16,600 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $276.21, for a total value of $4,585,086.00. Following the completion of the sale, the chief executive officer now owns 27,752 shares of the company’s stock, valued at $7,665,379.92. This trade represents a 37.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The shares were sold at an average price of $283.59, for a total value of $17,469,144.00.

Penumbra Stock Down 0.1 %

NYSE:PEN opened at $280.93 on Friday. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average is $272.70 and its two-hundred day moving average is $240.05. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 826.25, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The company had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Research analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of analyst reports. Truist Financial upped their price target on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Wednesday, February 19th. Canaccord Genuity Group upped their price objective on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Oppenheimer started coverage on Penumbra in a report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price objective on the stock. Finally, Bank of America started coverage on Penumbra in a report on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $294.47.

Institutional Trading of Penumbra

Several hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after acquiring an additional 121,465 shares in the last quarter. Champlain Investment Partners LLC raised its stake in shares of Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after acquiring an additional 264,122 shares in the last quarter. State Street Corp raised its stake in shares of Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares in the last quarter. RTW Investments LP raised its stake in shares of Penumbra by 8.4% in the fourth quarter. RTW Investments LP now owns 862,450 shares of the company’s stock valued at $204,815,000 after acquiring an additional 66,700 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of Penumbra by 23.4% in the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after acquiring an additional 138,387 shares in the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.