Insider Selling: Penumbra, Inc. (NYSE:PEN) CEO Sells $4,818,010.50 in Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,650 shares of Penumbra stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $289.37, for a total transaction of $4,818,010.50. Following the completion of the sale, the chief executive officer now directly owns 75,237 shares of the company’s stock, valued at approximately $21,771,330.69. The trade was a 18.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, April 16th, Adam Elsesser sold 16,560 shares of Penumbra stock. The shares were sold at an average price of $274.35, for a total transaction of $4,543,236.00.
• On Wednesday, April 2nd, Adam Elsesser sold 16,565 shares of Penumbra stock. The shares were sold at an average price of $272.24, for a total transaction of $4,509,655.60.
• On Wednesday, March 19th, Adam Elsesser sold 16,600 shares of Penumbra stock. The shares were sold at an average price of $276.21, for a total transaction of $4,585,086.00.
• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The shares were sold at an average price of $283.59, for a total transaction of $17,469,144.00.

Penumbra Stock Performance

NYSE:PEN opened at $297.25 on Monday. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11.51 billion, a PE ratio of 874.26, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53. The firm has a 50-day moving average price of $277.75 and a 200 day moving average price of $261.33.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.17. The firm had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. Research analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Institutional Trading of Penumbra

Several large investors have recently added to or reduced their stakes in PEN. Synergy Investment Management LLC bought a new stake in Penumbra during the first quarter worth about $27,000. First Horizon Advisors Inc. grew its stake in Penumbra by 404.8% during the first quarter. First Horizon Advisors Inc. now owns 106 shares of the company’s stock worth $28,000 after buying an additional 85 shares during the last quarter. UMB Bank n.a. grew its stake in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after buying an additional 70 shares during the last quarter. Hurley Capital LLC bought a new stake in Penumbra during the fourth quarter worth about $56,000. Finally, Huntington National Bank grew its stake in shares of Penumbra by 138.7% during the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after purchasing an additional 154 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Stifel Nicolaus set a $318.00 price target on shares of Penumbra and gave the company a “buy” rating in a report on Thursday, April 24th. 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. Canaccord Genuity Group upped their price target on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Penumbra in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.40.

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.