Insider Selling: Penumbra, Inc. (NYSE:PEN) Director Sells $159,614.02 in Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 782 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $204.11, for a total transaction of $159,614.02. Following the sale, the director now directly owns 8,863 shares in the company, valued at $1,809,026.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Penumbra Stock Performance

NYSE PEN opened at $203.73 on Friday. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $302.00. The firm has a market capitalization of $7.90 billion, a P/E ratio of 85.96, a price-to-earnings-growth ratio of 2.26 and a beta of 0.54. The stock’s fifty day moving average is $187.35 and its two-hundred day moving average is $202.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. Penumbra’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, research analysts anticipate that Penumbra, Inc. will post 2.64 earnings per share for the current year.

Analysts Set New Price Targets

PEN has been the topic of a number of analyst reports. Royal Bank of Canada dropped their target price on Penumbra from $289.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Citigroup upped their price objective on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Truist Financial reissued a “buy” rating and set a $200.00 target price (down previously from $230.00) on shares of Penumbra in a research note on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Finally, Piper Sandler lowered their price target on Penumbra from $260.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.27.

Institutional Trading of Penumbra

Several institutional investors have recently made changes to their positions in PEN. Benjamin F. Edwards & Company Inc. grew its position in Penumbra by 171.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after acquiring an additional 67 shares during the period. Mather Group LLC. acquired a new position in shares of Penumbra in the 1st quarter valued at $29,000. WASHINGTON TRUST Co purchased a new position in shares of Penumbra during the 2nd quarter worth $54,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Penumbra by 1,845.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Penumbra during the 4th quarter worth about $71,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

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.