Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 15,000 Shares

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00. Following the sale, the chief executive officer now directly owns 867,582 shares of the company’s stock, valued at $177,472,573.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Friday, September 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $197.71, for a total value of $2,965,650.00.
• On Thursday, August 22nd, Adam Elsesser sold 1,620 shares of Penumbra stock. The stock was sold at an average price of $200.00, for a total value of $324,000.00.

Penumbra Trading Down 0.9 %

PEN stock traded down $1.91 during midday trading on Wednesday, reaching $203.71. 233,880 shares of the company traded hands, compared to its average volume of 378,407. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25. The business has a 50 day moving average of $198.07 and a 200-day moving average of $193.99. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 599.15, a P/E/G ratio of 2.39 and a beta of 0.54.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The business had revenue of $299.40 million for the quarter, compared to the consensus estimate of $298.24 million. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that Penumbra, Inc. will post 2.58 earnings per share for the current fiscal year.

Penumbra declared that its board has approved a share repurchase plan on Tuesday, August 13th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Penumbra

A number of institutional investors and hedge funds have recently modified their holdings of PEN. Mather Group LLC. bought a new stake in shares of Penumbra during the 1st quarter worth approximately $29,000. Diversified Trust Co lifted its stake in shares of Penumbra by 112.1% during the 1st quarter. Diversified Trust Co now owns 6,720 shares of the company’s stock worth $1,500,000 after acquiring an additional 3,552 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Penumbra by 3.3% during the 1st quarter. State of Michigan Retirement System now owns 9,514 shares of the company’s stock worth $2,123,000 after acquiring an additional 300 shares during the last quarter. Norden Group LLC bought a new stake in shares of Penumbra during the 1st quarter worth approximately $4,515,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Penumbra by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 145,741 shares of the company’s stock worth $32,526,000 after acquiring an additional 2,760 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup upped their price objective on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Wells Fargo & Company lowered Penumbra from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $289.00 to $150.00 in a research note on Wednesday, July 31st. Truist Financial upped their price objective on Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus assumed coverage on Penumbra in a research note on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price objective for the company. Finally, Robert W. Baird decreased their target price on Penumbra from $231.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.17.

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.