Penumbra, Inc. (NYSE:PEN) CEO Sells $17,469,144.00 in Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 61,600 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00. Following the transaction, the chief executive officer now owns 16,376 shares of the company’s stock, valued at approximately $4,644,069.84. The trade was a 79.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Friday, December 20th, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $242.96, for a total transaction of $3,644,400.00.

Penumbra Price Performance

Shares of NYSE PEN opened at $275.07 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00. The firm has a market capitalization of $10.59 billion, a P/E ratio of 809.01, a PEG ratio of 2.83 and a beta of 0.51. The company’s fifty day moving average is $267.39 and its two-hundred day moving average is $235.72.

Penumbra (NYSE:PEN) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Analysts forecast that Penumbra, Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEN. Truist Financial boosted their target price on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. UBS Group increased their price objective on Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. BTIG Research raised their target price on shares of Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price target on shares of Penumbra from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley raised their price objective on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.64.

Institutional Trading of Penumbra

A number of institutional investors have recently bought and sold shares of PEN. China Universal Asset Management Co. Ltd. purchased a new position in shares of Penumbra in the fourth quarter valued at $573,000. State Street Corp increased its holdings in Penumbra by 0.3% during the 3rd quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after acquiring an additional 3,863 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after acquiring an additional 358,932 shares during the last quarter. E. Ohman J or Asset Management AB raised its position in Penumbra by 10.4% during the fourth quarter. E. Ohman J or Asset Management AB now owns 21,312 shares of the company’s stock worth $5,061,000 after acquiring an additional 2,000 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Penumbra in the third quarter valued at about $2,330,000. 88.88% of the stock is currently 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.