Lambert Shiu Sells 654 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CAO Lambert Shiu sold 654 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $243.01, for a total transaction of $158,928.54. Following the completion of the transaction, the chief accounting officer now owns 20,028 shares of the company’s stock, valued at approximately $4,867,004.28. The trade was a 3.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lambert Shiu also recently made the following trade(s):

• On Friday, November 29th, Lambert Shiu sold 1,798 shares of Penumbra stock. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88.

Penumbra Stock Performance

PEN traded up $0.40 during trading on Tuesday, hitting $245.24. The stock had a trading volume of 279,206 shares, compared to its average volume of 378,372. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 285.16, a P/E/G ratio of 2.46 and a beta of 0.51. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The company has a 50 day moving average price of $218.84 and a 200-day moving average price of $199.03.

Penumbra (NYSE:PEN) last issued 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. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same quarter last year, the business earned $0.67 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts predict that Penumbra, Inc. will post 2.81 EPS for the current year.

Penumbra declared that its board has initiated a share repurchase plan on Tuesday, August 13th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently modified their holdings of PEN. Tidal Investments LLC boosted its stake in shares of Penumbra by 276.9% in the 1st quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock worth $1,109,000 after buying an additional 3,652 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Penumbra during the 2nd quarter worth $17,943,000. Thrivent Financial for Lutherans boosted its holdings in shares of Penumbra by 3,832.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after buying an additional 358,932 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Penumbra during the 3rd quarter worth approximately $1,092,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Penumbra in the third quarter valued at $777,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PEN. Leerink Partners began coverage on Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price target for the company. BTIG Research boosted their price target on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Robert W. Baird raised their price objective on Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus started coverage on Penumbra in a research report on Tuesday, September 17th. They set a “buy” rating and a $238.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.92.

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.