Arani Bose Sells 12,000 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) Director Arani Bose sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $283.77, for a total value of $3,405,240.00. Following the completion of the sale, the director now owns 314,819 shares in the company, valued at approximately $89,336,187.63. This represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Penumbra Price Performance

Penumbra stock opened at $267.16 on Friday. The stock has a market capitalization of $10.29 billion, a P/E ratio of 785.75, a P/E/G ratio of 2.83 and a beta of 0.51. The company’s fifty day moving average price is $274.55 and its 200 day moving average price is $242.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $310.00.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, equities research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

PEN has been the topic of several recent research reports. Citigroup upped their price objective on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Morgan Stanley upped their price target on shares of Penumbra from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Piper Sandler reiterated an “overweight” rating and set a $330.00 price objective (up previously from $250.00) on shares of Penumbra in a research note on Wednesday, February 19th. 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 for the company. Finally, Robert W. Baird raised their target price on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $294.47.

Institutional Investors Weigh In On Penumbra

Several institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after acquiring an additional 375,684 shares during the last quarter. Norges Bank purchased a new position in Penumbra in the 4th quarter valued at $54,396,000. T. Rowe Price Investment Management Inc. boosted its stake in Penumbra by 47.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock worth $167,913,000 after purchasing an additional 227,506 shares during the last quarter. Braidwell LP grew its holdings in shares of Penumbra by 70.0% during the third quarter. Braidwell LP now owns 361,428 shares of the company’s stock worth $70,229,000 after buying an additional 148,834 shares in the last quarter. Finally, Baillie Gifford & Co. raised its position 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 buying an additional 138,387 shares during 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.