Penumbra, Inc. (NYSE:PEN) Director Don W. Kassing Sells 170 Shares

Penumbra, Inc. (NYSE:PEN) Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $179.99, for a total value of $30,598.30. Following the sale, the director now owns 1,005 shares of the company’s stock, valued at $180,889.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Penumbra Stock Up 0.8 %

Shares of Penumbra stock opened at $177.42 on Friday. The stock has a 50 day moving average price of $192.82 and a two-hundred day moving average price of $224.55. The company has a quick ratio of 3.51, a current ratio of 6.12 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12-month low of $170.59 and a 12-month high of $341.23. The stock has a market capitalization of $6.88 billion, a P/E ratio of 74.86, a PEG ratio of 1.80 and a beta of 0.55.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PEN. Piper Sandler reduced their price target on shares of Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Canaccord Genuity Group decreased their target price on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a report on Wednesday, May 8th. Finally, Truist Financial cut their price objective on Penumbra from $290.00 to $280.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $293.10.

Hedge Funds Weigh In On Penumbra

Institutional investors have recently made changes to their positions in the business. Champlain Investment Partners LLC grew its holdings in Penumbra by 131.8% in the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after buying an additional 616,700 shares during the last quarter. Norges Bank acquired a new stake in shares of Penumbra in the fourth quarter worth $85,222,000. Rock Springs Capital Management LP increased its position in Penumbra by 37.6% during the third quarter. Rock Springs Capital Management LP now owns 503,750 shares of the company’s stock worth $121,862,000 after acquiring an additional 137,750 shares during the period. Braidwell LP increased its position in Penumbra by 133.7% during the fourth quarter. Braidwell LP now owns 222,792 shares of the company’s stock worth $56,041,000 after acquiring an additional 127,477 shares during the period. Finally, William Blair Investment Management LLC raised its stake in Penumbra by 12.2% during the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock valued at $186,066,000 after purchasing an additional 90,444 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

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.