Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts Sells 600 Shares

Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts sold 600 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the completion of the transaction, the executive vice president now directly owns 64,044 shares of the company’s stock, valued at approximately $15,353,908.56. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Johanna Roberts also recently made the following trade(s):

• On Tuesday, October 1st, Johanna Roberts sold 600 shares of Penumbra stock. The stock was sold at an average price of $190.76, for a total value of $114,456.00.
• On Tuesday, September 3rd, Johanna Roberts sold 600 shares of Penumbra stock. The stock was sold at an average price of $206.22, for a total value of $123,732.00.

Penumbra Stock Performance

PEN opened at $240.15 on Friday. The stock has a market cap of $9.22 billion, a PE ratio of 279.24, a P/E/G ratio of 2.40 and a beta of 0.51. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The stock’s 50 day simple moving average is $210.39 and its 200-day simple moving average is $197.02.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The business 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%. Penumbra’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 earnings per share. Sell-side analysts forecast that Penumbra, Inc. will post 2.79 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Wells Fargo & Company cut Penumbra from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $289.00 to $150.00 in a research note on Wednesday, July 31st. Piper Sandler raised their target price on Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday. BTIG Research raised their target price on Penumbra from $224.00 to $234.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Robert W. Baird raised their target price on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $227.92.

Institutional Trading of Penumbra

Institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC acquired a new stake in Penumbra in the 3rd quarter valued at $26,000. GAMMA Investing LLC boosted its stake 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. WASHINGTON TRUST Co acquired a new position in Penumbra in the second quarter worth $54,000. Park Place Capital Corp boosted its stake in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after purchasing an additional 339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Penumbra by 1,845.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

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.