Insider Selling: Penumbra, Inc. (NYSE:PEN) Director Sells 88 Shares of Stock

Penumbra, Inc. (NYSE:PENGet Rating) Director Bridget O’rourke sold 88 shares of Penumbra stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $135.00, for a total value of $11,880.00. Following the transaction, the director now owns 3,960 shares in the company, valued at approximately $534,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Penumbra Price Performance

Shares of NYSE:PEN opened at $139.38 on Monday. Penumbra, Inc. has a fifty-two week low of $114.86 and a fifty-two week high of $293.20. The business has a 50-day moving average of $131.51 and a two-hundred day moving average of $176.80. The stock has a market capitalization of $5.25 billion, a P/E ratio of -819.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.31 and a quick ratio of 3.20.

Penumbra (NYSE:PENGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). Penumbra had a positive return on equity of 1.97% and a negative net margin of 0.83%. The company had revenue of $203.90 million during the quarter, compared to analyst estimates of $195.39 million. During the same period in the prior year, the firm earned $0.27 EPS. Penumbra’s quarterly revenue was up 20.5% on a year-over-year basis. On average, equities research analysts predict that Penumbra, Inc. will post 0.23 EPS for the current fiscal year.

Institutional Trading of Penumbra

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Maverick Capital Ltd. acquired a new position in shares of Penumbra during the 4th quarter worth about $26,000. WASHINGTON TRUST Co acquired a new position in shares of Penumbra during the 2nd quarter worth about $31,000. Covestor Ltd acquired a new position in shares of Penumbra during the 4th quarter worth about $44,000. NuWave Investment Management LLC lifted its position in shares of Penumbra by 4,607.7% during the 2nd quarter. NuWave Investment Management LLC now owns 612 shares of the company’s stock worth $76,000 after purchasing an additional 599 shares during the last quarter. Finally, Horan Securities Inc. acquired a new position in shares of Penumbra during the 4th quarter worth about $86,000. Institutional investors and hedge funds own 80.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PEN shares. BTIG Research lowered their price target on Penumbra from $272.00 to $213.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Truist Financial lowered their price target on Penumbra to $180.00 in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Penumbra from $250.00 to $163.00 in a research report on Thursday, July 21st. Wells Fargo & Company reduced their price objective on Penumbra from $321.00 to $265.00 in a research report on Wednesday, May 4th. Finally, Citigroup reduced their price objective on Penumbra from $280.00 to $220.00 in a research report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $222.50.

About Penumbra

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Penumbra, Inc designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers aspiration based thrombectomy systems and accessory devices, including revascularization device for mechanical thrombectomy, such as Penumbra System under the Penumbra RED, JET, ACE, 3D Revascularization Device, and Penumbra ENGINE brands, as well as components and accessories; neurovascular embolization coiling systems to treat patients with various sizes of aneurysms and other neurovascular lesions under the Penumbra Coil 400, POD400, PAC400, and Penumbra SMART Coil brand names; and neurovascular access systems designed to provide intracranial access for use in a range of neurovascular therapies under the Neuron, Neuron MAX, Select, BENCHMARK, BMX96, DDC, and PX SLIM brands.

See Also

Insider Buying and Selling by Quarter for Penumbra (NYSE:PEN)

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