Insider Selling: Penumbra, Inc. (NYSE:PEN) CEO Sells $3,037,800.00 in Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $202.52, for a total transaction of $3,037,800.00. Following the transaction, the chief executive officer now directly owns 927,582 shares of the company’s stock, valued at $187,853,906.64. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, May 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $200.98, for a total value of $3,014,700.00.

Penumbra Stock Performance

Shares of PEN opened at $189.87 on Monday. The firm has a fifty day moving average of $188.23 and a 200-day moving average of $218.85. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 80.11, a price-to-earnings-growth ratio of 1.91 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12. Penumbra, Inc. has a 1 year low of $170.59 and a 1 year high of $310.51.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Penumbra had a net margin of 8.52% and a return on equity of 7.83%. The firm had revenue of $278.70 million for the quarter, compared to analyst estimates of $274.94 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities analysts anticipate that Penumbra, Inc. will post 2.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PEN has been the topic of several research reports. Piper Sandler cut their price objective on Penumbra from $290.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. BTIG Research dropped their price target on Penumbra from $265.00 to $232.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Morgan Stanley decreased their price objective on shares of Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Truist Financial lowered their target price on shares of Penumbra from $280.00 to $230.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Finally, Canaccord Genuity Group reduced their price target on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $260.56.

Hedge Funds Weigh In On Penumbra

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. raised its stake in Penumbra by 171.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Penumbra during the first quarter valued at $29,000. Signaturefd LLC raised its stake in shares of Penumbra by 27.2% during the fourth quarter. Signaturefd LLC now owns 215 shares of the company’s stock valued at $54,000 after purchasing an additional 46 shares in the last quarter. WASHINGTON TRUST Co acquired a new stake in Penumbra in the second quarter worth about $54,000. Finally, Quest Partners LLC bought a new position in Penumbra in the 4th quarter valued at about $71,000. 88.88% of the stock is owned by institutional investors.

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.