Insider Selling: Penumbra, Inc. (NYSE:PEN) CEO Sells 14,500 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 14,500 shares of the firm’s stock in a transaction on Monday, October 11th. The stock was sold at an average price of $254.60, for a total value of $3,691,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

  • On Monday, September 13th, Adam Elsesser sold 14,500 shares of Penumbra stock. The stock was sold at an average price of $280.42, for a total value of $4,066,090.00.
  • On Wednesday, August 11th, Adam Elsesser sold 14,500 shares of Penumbra stock. The stock was sold at an average price of $251.24, for a total value of $3,642,980.00.

NYSE:PEN opened at $263.45 on Thursday. The company’s 50 day moving average price is $268.86 and its 200-day moving average price is $269.87. Penumbra, Inc. has a 52 week low of $163.49 and a 52 week high of $320.00. The company has a quick ratio of 3.68, a current ratio of 6.04 and a debt-to-equity ratio of 0.04. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 612.67, a PEG ratio of 13.67 and a beta of 0.28.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Monday, August 9th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. Penumbra had a net margin of 2.37% and a return on equity of 5.52%. The company had revenue of $184.26 million for the quarter, compared to the consensus estimate of $170.77 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 75.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Penumbra, Inc. will post 0.87 earnings per share for the current year.

Several equities analysts have commented on the stock. Citigroup lifted their target price on shares of Penumbra from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, August 10th. Truist began coverage on shares of Penumbra in a research report on Wednesday, September 15th. They issued a “buy” rating and a $350.00 target price for the company. Truist Securities began coverage on shares of Penumbra in a research note on Thursday, September 16th. They issued a “buy” rating and a $350.00 price target for the company. Finally, BTIG Research boosted their price target on shares of Penumbra from $299.00 to $308.00 and gave the stock a “buy” rating in a research note on Tuesday, August 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $324.22.

Several hedge funds have recently made changes to their positions in PEN. Macquarie Group Ltd. raised its position in shares of Penumbra by 18,222.6% during the 2nd quarter. Macquarie Group Ltd. now owns 195,136 shares of the company’s stock valued at $53,479,000 after purchasing an additional 194,071 shares during the period. Morgan Stanley grew its stake in shares of Penumbra by 67.2% in the 1st quarter. Morgan Stanley now owns 381,204 shares of the company’s stock worth $103,146,000 after buying an additional 153,186 shares in the last quarter. Amundi purchased a new position in shares of Penumbra in the 2nd quarter worth $23,603,000. State Street Corp grew its stake in shares of Penumbra by 9.3% in the 2nd quarter. State Street Corp now owns 891,142 shares of the company’s stock worth $244,226,000 after buying an additional 75,687 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Penumbra in the 2nd quarter worth $18,996,000. Hedge funds and other institutional investors own 80.61% of the company’s stock.

About Penumbra

Penumbra, Inc engages in the design, development, manufacture, and marketing of innovative medical devices. It offers thrombectomy, embolization, access, neurosurgical tools, ruby coil system, lantern, penumbra occlusion device (POD) system, packing coil, and indigo systems products. Its target markets include interventional neuroradiologists, neurosurgeons, and interventional neurologists; and interventional radiologists, vascular surgeons, and interventional cardiologists.

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Insider Buying and Selling by Quarter for Penumbra (NYSE:PEN)

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