Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 1,620 Shares

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 1,620 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $200.00, for a total transaction of $324,000.00. Following the transaction, the chief executive officer now owns 925,962 shares in the company, valued at approximately $185,192,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, July 17th, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $202.52, for a total transaction of $3,037,800.00.

Penumbra Trading Down 1.4 %

Penumbra stock opened at $200.29 on Thursday. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $302.00. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 84.51, a P/E/G ratio of 2.13 and a beta of 0.55. The firm has a 50 day moving average of $183.52 and a 200 day moving average of $205.57. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. As a group, research analysts predict that Penumbra, Inc. will post 2.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PEN. Signaturefd LLC raised its holdings in Penumbra by 27.2% during the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after acquiring an additional 46 shares during the period. Silvercrest Asset Management Group LLC grew its position in shares of Penumbra by 3.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after purchasing an additional 55 shares in the last quarter. ProShare Advisors LLC raised its stake in Penumbra by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 2,171 shares of the company’s stock valued at $391,000 after purchasing an additional 62 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Penumbra by 171.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after purchasing an additional 67 shares during the period. Finally, Arcadia Investment Management Corp MI lifted its holdings in Penumbra by 7.9% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 1,006 shares of the company’s stock worth $181,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Penumbra from $235.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada dropped their target price on Penumbra from $289.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Truist Financial reaffirmed a “buy” rating and set a $200.00 price target (down previously from $230.00) on shares of Penumbra in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, July 31st. Finally, BTIG Research boosted their target price on shares of Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $199.50.

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.