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

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the transaction, the chief executive officer now directly owns 867,582 shares of the company’s stock, valued at $177,472,573.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Adam Elsesser also recently made the following trade(s):

• On Friday, September 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $197.71, for a total transaction of $2,965,650.00.
• On Thursday, August 22nd, Adam Elsesser sold 1,620 shares of Penumbra stock. The stock was sold at an average price of $200.00, for a total transaction of $324,000.00.

Penumbra Stock Down 0.9 %

Shares of NYSE PEN opened at $203.71 on Thursday. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. 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 stock has a market cap of $7.90 billion, a P/E ratio of 85.95, a P/E/G ratio of 2.39 and a beta of 0.54. The firm has a 50 day moving average price of $198.07 and a 200 day moving average price of $193.99.

Penumbra (NYSE:PEN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. The company 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%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Analysts expect that Penumbra, Inc. will post 2.58 EPS for the current year.

Penumbra announced that its board has approved a share buyback program on Tuesday, August 13th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEN. Royal Bank of Canada raised their price target on shares of Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Canaccord Genuity Group upped their price target on Penumbra from $176.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Leerink Partners started coverage on Penumbra in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 price objective for the company. Leerink Partnrs raised Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $225.00 target price (up previously from $200.00) on shares of Penumbra in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Penumbra presently has an average rating of “Moderate Buy” and a consensus price target of $220.17.

Hedge Funds Weigh In On Penumbra

Institutional investors have recently modified their holdings of the business. Mather Group LLC. bought a new stake in Penumbra during the 1st quarter worth approximately $29,000. Diversified Trust Co increased its position in shares of Penumbra by 112.1% during the first quarter. Diversified Trust Co now owns 6,720 shares of the company’s stock worth $1,500,000 after acquiring an additional 3,552 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Penumbra by 3.3% during the first quarter. State of Michigan Retirement System now owns 9,514 shares of the company’s stock worth $2,123,000 after acquiring an additional 300 shares during the period. Norden Group LLC bought a new stake in Penumbra in the 1st quarter valued at $4,515,000. Finally, Principal Financial Group Inc. boosted its stake in Penumbra by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 145,741 shares of the company’s stock worth $32,526,000 after purchasing an additional 2,760 shares during the period. Institutional investors own 88.88% of the company’s stock.

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.