Harpreet Grewal Sells 167 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $241.28, for a total value of $40,293.76. Following the sale, the director now directly owns 8,530 shares in the company, valued at $2,058,118.40. This represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Penumbra Stock Performance

Shares of PEN stock opened at $251.61 on Wednesday. The stock’s 50-day moving average is $240.23 and its two-hundred day moving average is $208.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 5.82. Penumbra, Inc. has a 1 year low of $148.00 and a 1 year high of $277.34. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 292.57, a PEG ratio of 2.47 and a beta of 0.52.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.16. The firm had revenue of $301.04 million for the quarter, compared to the consensus estimate of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. Analysts predict that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on PEN. Royal Bank of Canada upped their price target on Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Citigroup upped their target price on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Oppenheimer assumed coverage on shares of Penumbra in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target for the company. Robert W. Baird boosted their price target on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company upgraded shares of Penumbra from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.00.

Institutional Trading of Penumbra

Several institutional investors and hedge funds have recently bought and sold shares of PEN. Commonwealth Equity Services LLC acquired a new position in Penumbra in the second quarter valued at $215,000. Natixis Advisors LLC acquired a new position in Penumbra in the 2nd quarter valued at about $3,423,000. Rhumbline Advisers raised its stake in Penumbra by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 109,132 shares of the company’s stock valued at $19,640,000 after acquiring an additional 517 shares during the last quarter. TD Asset Management Inc lifted its position in Penumbra by 3.2% during the 2nd quarter. TD Asset Management Inc now owns 133,942 shares of the company’s stock worth $24,106,000 after acquiring an additional 4,156 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Penumbra by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 10,293 shares of the company’s stock valued at $1,852,000 after purchasing an additional 216 shares during the last quarter. 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.