Penumbra, Inc. (NYSE:PEN) Director Sells $40,293.76 in Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $241.28, for a total transaction of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares of the company’s stock, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Penumbra Price Performance

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

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.16. The business 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 business’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 earnings per share. On average, analysts forecast that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Penumbra

Several hedge funds have recently modified their holdings of the company. Diversified Trust Co raised its position in shares of Penumbra by 3.0% in the fourth quarter. Diversified Trust Co now owns 10,269 shares of the company’s stock valued at $2,439,000 after buying an additional 298 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Penumbra during the fourth quarter worth approximately $304,000. GAMMA Investing LLC grew its stake in Penumbra by 160.8% in the 4th quarter. GAMMA Investing LLC now owns 446 shares of the company’s stock worth $106,000 after acquiring an additional 275 shares during the period. Franklin Resources Inc. raised its holdings in Penumbra by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 319,232 shares of the company’s stock valued at $67,473,000 after acquiring an additional 24,091 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Penumbra by 2.7% during the 3rd quarter. Tidal Investments LLC now owns 5,008 shares of the company’s stock worth $973,000 after purchasing an additional 130 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PEN shares. Stifel Nicolaus initiated coverage on Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 price target for the company. Robert W. Baird upped their price target on shares of Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. BTIG Research raised their price objective on shares of Penumbra from $232.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada boosted their price objective on shares of Penumbra from $205.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $190.00 to $275.00 in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Penumbra has an average rating of “Moderate Buy” and a consensus target price of $258.00.

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.