Penumbra (NYSE:PEN) Director Harpreet Grewal Sells 186 Shares

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 186 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $248.61, for a total value of $46,241.46. Following the transaction, the director directly owned 8,702 shares of the company’s stock, valued at $2,163,404.22. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Harpreet Grewal also recently made the following trade(s):

• On Tuesday, September 2nd, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $272.19, for a total value of $50,627.34.

Penumbra Stock Performance

Shares of Penumbra stock opened at $256.05 on Friday. The business has a 50-day simple moving average of $257.64 and a 200-day simple moving average of $262.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 6.75. Penumbra, Inc. has a one year low of $190.08 and a one year high of $310.00. The company has a market cap of $9.99 billion, a PE ratio of 68.10, a P/E/G ratio of 2.31 and a beta of 0.41.

Penumbra (NYSE:PEN) last issued its earnings results on Tuesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Penumbra had a net margin of 11.54% and a return on equity of 11.55%. The firm had revenue of $339.46 million for the quarter, compared to analysts’ expectations of $327.37 million. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. Penumbra has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Penumbra

Hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its holdings in shares of Penumbra by 1,139.3% in the 2nd quarter. Invesco Ltd. now owns 633,485 shares of the company’s stock valued at $162,571,000 after acquiring an additional 582,369 shares during the period. JPMorgan Chase & Co. grew its position in Penumbra by 437.0% during the 1st quarter. JPMorgan Chase & Co. now owns 703,634 shares of the company’s stock worth $188,159,000 after purchasing an additional 572,606 shares during the last quarter. Norges Bank acquired a new position in Penumbra in the second quarter valued at $114,014,000. Lord Abbett & CO. LLC acquired a new position in Penumbra in the first quarter valued at $63,731,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Penumbra in the second quarter valued at about $53,818,000. 88.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PEN shares. Truist Financial set a $310.00 target price on shares of Penumbra and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Wall Street Zen downgraded Penumbra from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Morgan Stanley increased their price objective on Penumbra from $260.00 to $266.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Royal Bank Of Canada cut their target price on Penumbra from $330.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Finally, UBS Group set a $335.00 price target on Penumbra and gave the company a “buy” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.93.

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.