Penumbra, Inc. (NYSE:PEN) CEO Sells $4,035,889.70 in Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,910 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $253.67, for a total value of $4,035,889.70. Following the transaction, the chief executive officer now owns 110,355 shares in the company, valued at $27,993,752.85. This trade represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, May 28th, Adam Elsesser sold 16,300 shares of Penumbra stock. The shares were sold at an average price of $267.91, for a total value of $4,366,933.00.
• On Wednesday, May 14th, Adam Elsesser sold 16,600 shares of Penumbra stock. The stock was sold at an average price of $298.22, for a total transaction of $4,950,452.00.
• On Wednesday, May 7th, Adam Elsesser sold 16,650 shares of Penumbra stock. The shares were sold at an average price of $289.37, for a total transaction of $4,818,010.50.
• 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.

Penumbra Stock Up 1.1%

Shares of NYSE PEN opened at $256.30 on Friday. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a market capitalization of $9.93 billion, a PE ratio of 753.82, a price-to-earnings-growth ratio of 2.83 and a beta of 0.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The firm’s 50-day moving average is $275.71 and its two-hundred day moving average is $267.11.

Penumbra (NYSE:PEN) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17. The business 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 revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. Equities analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Penumbra

A number of institutional investors have recently modified their holdings of PEN. Savant Capital LLC raised its position in shares of Penumbra by 8.0% in the fourth quarter. Savant Capital LLC now owns 2,981 shares of the company’s stock valued at $708,000 after buying an additional 221 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Penumbra by 39.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 299,397 shares of the company’s stock worth $71,831,000 after purchasing an additional 85,284 shares during the last quarter. New York State Teachers Retirement System increased its position in Penumbra by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 37,654 shares of the company’s stock worth $8,942,000 after purchasing an additional 148 shares during the last quarter. Rhumbline Advisers increased its position in Penumbra by 0.8% during the fourth quarter. Rhumbline Advisers now owns 110,386 shares of the company’s stock worth $26,214,000 after purchasing an additional 849 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in Penumbra by 23.4% during the fourth quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock worth $173,416,000 after purchasing an additional 138,387 shares during the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PEN has been the topic of several research analyst reports. UBS Group reiterated a “buy” rating and set a $330.00 price target (up from $320.00) on shares of Penumbra in a research note on Thursday, April 24th. BTIG Research reiterated a “buy” rating on shares of Penumbra in a research note on Thursday, April 24th. Stifel Nicolaus set a $318.00 price target on shares of Penumbra and gave the stock a “buy” rating in a research note on Thursday, April 24th. Canaccord Genuity Group lifted their price target on shares of Penumbra from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company lifted their price target on shares of Penumbra from $305.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $302.40.

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.