Adam Elsesser Sells 15,000 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.98, for a total value of $3,014,700.00. Following the sale, the chief executive officer now owns 942,582 shares in the company, valued at $189,440,130.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Penumbra Price Performance

Shares of Penumbra stock opened at $190.64 on Friday. The business’s 50-day moving average price is $212.45 and its 200-day moving average price is $232.05. The firm has a market capitalization of $7.39 billion, a PE ratio of 80.44, a price-to-earnings-growth ratio of 2.03 and a beta of 0.57. Penumbra, Inc. has a 12 month low of $180.93 and a 12 month high of $348.67. The company has a current ratio of 6.12, a quick ratio of 3.51 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The business had revenue of $278.70 million for the quarter, compared to analysts’ expectations of $274.94 million. During the same period last year, the business posted $0.23 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts forecast that Penumbra, Inc. will post 2.87 EPS for the current fiscal year.

Institutional Trading of Penumbra

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC increased its holdings in shares of Penumbra by 61.6% in the first quarter. Virtu Financial LLC now owns 4,011 shares of the company’s stock worth $895,000 after buying an additional 1,529 shares during the period. Tidal Investments LLC boosted its stake in shares of Penumbra by 276.9% during the first quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock valued at $1,109,000 after purchasing an additional 3,652 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in shares of Penumbra by 3.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,680 shares of the company’s stock worth $375,000 after purchasing an additional 55 shares during the last quarter. First Light Asset Management LLC purchased a new stake in shares of Penumbra during the first quarter worth about $8,471,000. Finally, EntryPoint Capital LLC increased its holdings in Penumbra by 562.8% during the 1st quarter. EntryPoint Capital LLC now owns 517 shares of the company’s stock valued at $115,000 after purchasing an additional 439 shares during the period. 88.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEN has been the topic of several analyst reports. Truist Financial decreased their price target on Penumbra from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. cut shares of Penumbra from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $284.00 to $250.00 in a research note on Friday, February 23rd. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, May 8th. Piper Sandler decreased their price target on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Finally, Canaccord Genuity Group lowered their price objective on Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $300.64.

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.