Adam Elsesser Sells 15,000 Shares of Penumbra, Inc. (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $242.96, for a total value of $3,644,400.00. Following the completion of the transaction, the chief executive officer now directly owns 837,582 shares in the company, valued at approximately $203,498,922.72. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, November 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $237.28, for a total value of $3,559,200.00.
• On Monday, October 21st, Adam Elsesser sold 15,000 shares of Penumbra stock. The shares were sold at an average price of $204.56, for a total value of $3,068,400.00.

Penumbra Stock Down 0.1 %

NYSE PEN opened at $240.36 on Wednesday. The stock has a 50 day moving average price of $232.73 and a 200-day moving average price of $204.08. Penumbra, Inc. has a one year low of $148.00 and a one year high of $277.34. 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 company has a market capitalization of $9.22 billion, a P/E ratio of 279.49, a P/E/G ratio of 2.47 and a beta of 0.51.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. During the same quarter last year, the business earned $0.67 earnings per share. Penumbra’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Penumbra from $244.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Citigroup lifted their target price on shares of Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Truist Financial increased their price target on Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company upgraded Penumbra from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $190.00 to $275.00 in a research report on Wednesday, December 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEN. True Wealth Design LLC purchased a new stake in Penumbra during the third quarter valued at approximately $26,000. GAMMA Investing LLC lifted its position in Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Park Place Capital Corp boosted its stake in Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after buying an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock valued at $70,000 after acquiring an additional 369 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock valued at $81,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Penumbra Company Profile

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.