Adam Elsesser Sells 14,500 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 14,500 shares of the firm’s stock in a transaction dated Tuesday, January 11th. The shares were sold at an average price of $253.34, for a total value of $3,673,430.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Monday, December 13th, Adam Elsesser sold 14,500 shares of Penumbra stock. The shares were sold at an average price of $248.95, for a total value of $3,609,775.00.
  • On Thursday, November 11th, Adam Elsesser sold 14,500 shares of Penumbra stock. The shares were sold at an average price of $264.18, for a total value of $3,830,610.00.

Shares of PEN stock opened at $237.58 on Friday. The company has a market cap of $8.88 billion, a P/E ratio of 261.08 and a beta of 0.34. The stock has a 50 day simple moving average of $261.12 and a two-hundred day simple moving average of $266.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.53 and a current ratio of 5.76. Penumbra, Inc. has a fifty-two week low of $226.02 and a fifty-two week high of $320.00.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, November 3rd. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). The business had revenue of $190.12 million during the quarter, compared to the consensus estimate of $181.19 million. Penumbra had a return on equity of 5.77% and a net margin of 4.72%. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, research analysts predict that Penumbra, Inc. will post 0.79 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Ergoteles LLC acquired a new stake in Penumbra in the second quarter valued at approximately $2,714,000. Amalgamated Bank grew its stake in Penumbra by 315.7% in the second quarter. Amalgamated Bank now owns 26,707 shares of the company’s stock valued at $7,319,000 after acquiring an additional 20,282 shares during the period. Cinctive Capital Management LP grew its stake in Penumbra by 486.1% in the second quarter. Cinctive Capital Management LP now owns 15,275 shares of the company’s stock valued at $4,186,000 after acquiring an additional 12,669 shares during the period. Capula Management Ltd acquired a new stake in Penumbra in the second quarter valued at approximately $365,000. Finally, Bank of Nova Scotia acquired a new stake in Penumbra in the second quarter valued at approximately $523,000. Institutional investors and hedge funds own 78.90% of the company’s stock.

Separately, Zacks Investment Research downgraded Penumbra from a “hold” rating to a “sell” rating in a research report on Tuesday, January 4th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $331.00.

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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