Penumbra (NYSE:PEN) Trading Down 4%

Penumbra, Inc. (NYSE:PEN) was down 4% on Friday . The stock traded as low as $181.75 and last traded at $182.54. Approximately 80,688 shares were traded during trading, a decline of 77% from the average daily volume of 343,785 shares. The stock had previously closed at $190.10.

Analysts Set New Price Targets

PEN has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research report on Wednesday, May 8th. Truist Financial dropped their price target on Penumbra from $280.00 to $230.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Morgan Stanley dropped their price target on Penumbra from $235.00 to $210.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Citigroup dropped their price target on Penumbra from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Finally, Piper Sandler dropped their price objective on Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $260.56.

Penumbra Stock Down 6.1 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12. The firm has a fifty day simple moving average of $187.12 and a 200-day simple moving average of $217.90. The company has a market capitalization of $6.92 billion, a PE ratio of 75.98, a P/E/G ratio of 1.95 and a beta of 0.55.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The firm had revenue of $278.70 million for the quarter, compared to the consensus estimate of $274.94 million. During the same quarter last year, the business earned $0.23 earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that Penumbra, Inc. will post 2.88 EPS for the current fiscal year.

Insider Activity at Penumbra

In other Penumbra news, Director Don W. Kassing sold 170 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $179.99, for a total transaction of $30,598.30. Following the transaction, the director now owns 1,005 shares of the company’s stock, valued at approximately $180,889.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.98, for a total value of $3,014,700.00. Following the transaction, the chief executive officer now owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Don W. Kassing sold 170 shares of Penumbra stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $179.99, for a total transaction of $30,598.30. Following the completion of the transaction, the director now directly owns 1,005 shares in the company, valued at approximately $180,889.95. The disclosure for this sale can be found here. Insiders have sold a total of 31,970 shares of company stock worth $6,428,404 in the last ninety days. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PEN. Pacer Advisors Inc. increased its position in shares of Penumbra by 54.6% in the fourth quarter. Pacer Advisors Inc. now owns 8,063 shares of the company’s stock worth $2,028,000 after acquiring an additional 2,849 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Penumbra by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 378 shares of the company’s stock worth $95,000 after purchasing an additional 46 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Penumbra by 0.5% during the fourth quarter. New York State Teachers Retirement System now owns 37,888 shares of the company’s stock worth $9,530,000 after purchasing an additional 200 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Penumbra by 496.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 358 shares of the company’s stock worth $90,000 after purchasing an additional 298 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Penumbra by 19.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 265,155 shares of the company’s stock worth $66,697,000 after purchasing an additional 42,876 shares during the period. 88.88% of the stock is owned by hedge funds and other 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.