Johanna Roberts Sells 600 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $190.76, for a total value of $114,456.00. Following the completion of the sale, the executive vice president now directly owns 60,488 shares in the company, valued at approximately $11,538,690.88. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Johanna Roberts also recently made the following trade(s):

• On Tuesday, September 3rd, Johanna Roberts sold 600 shares of Penumbra stock. The shares were sold at an average price of $206.22, for a total value of $123,732.00.
• On Tuesday, August 13th, Johanna Roberts sold 600 shares of Penumbra stock. The stock was sold at an average price of $175.98, for a total value of $105,588.00.

Penumbra Price Performance

Penumbra stock traded up $1.97 during midday trading on Thursday, reaching $194.99. 295,371 shares of the company were exchanged, compared to its average volume of 384,454. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 82.27, a P/E/G ratio of 2.18 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 6.25. The firm’s 50-day simple moving average is $190.26 and its 200-day simple moving average is $196.35. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Penumbra had a return on equity of 8.39% and a net margin of 1.26%. The business had revenue of $299.40 million during the quarter, compared to the consensus estimate of $298.24 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts anticipate that Penumbra, Inc. will post 2.59 EPS for the current year.

Penumbra announced that its board has approved a share repurchase program on Tuesday, August 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Allianz Asset Management GmbH grew its stake in Penumbra by 9.7% during the fourth quarter. Allianz Asset Management GmbH now owns 7,182 shares of the company’s stock worth $1,807,000 after buying an additional 637 shares during the period. KBC Group NV purchased a new stake in shares of Penumbra during the fourth quarter valued at approximately $175,000. The Manufacturers Life Insurance Company lifted its position in shares of Penumbra by 8.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 99,881 shares of the company’s stock worth $25,124,000 after purchasing an additional 8,029 shares in the last quarter. Azimuth Capital Investment Management LLC boosted its stake in shares of Penumbra by 22.3% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 66,201 shares of the company’s stock valued at $16,652,000 after purchasing an additional 12,088 shares during the period. Finally, Braidwell LP grew its holdings in Penumbra by 133.7% during the 4th quarter. Braidwell LP now owns 222,792 shares of the company’s stock valued at $56,041,000 after purchasing an additional 127,477 shares in the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEN. Stifel Nicolaus started coverage on shares of Penumbra in a research note on Tuesday, September 17th. They set a “buy” rating and a $238.00 price target on the stock. BTIG Research upped their target price on shares of Penumbra from $187.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Robert W. Baird reduced their price target on shares of Penumbra from $231.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Truist Financial restated a “buy” rating and issued a $200.00 price target (down previously from $230.00) on shares of Penumbra in a report on Wednesday, July 31st. Finally, Leerink Partners began coverage on Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective for the company. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

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.