Penumbra, Inc. (NYSE:PEN) CEO Sells $4,585,086.00 in Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,600 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $276.21, for a total value of $4,585,086.00. Following the transaction, the chief executive officer now owns 27,752 shares in the company, valued at approximately $7,665,379.92. This trade represents a 37.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00.

Penumbra Trading Down 0.1 %

PEN opened at $280.93 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. Penumbra, Inc. has a fifty-two week low of $148.00 and a fifty-two week high of $310.00. The company’s 50 day moving average price is $272.70 and its two-hundred day moving average price is $240.30. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 826.25, a PEG ratio of 2.83 and a beta of 0.51.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. As a group, research analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Hedge Funds Weigh In On Penumbra

Hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC bought a new stake in Penumbra in the third quarter valued at approximately $26,000. UMB Bank n.a. increased its position in shares of Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after buying an additional 70 shares during the period. Hurley Capital LLC bought a new position in Penumbra during the fourth quarter worth $56,000. Huntington National Bank lifted its holdings in Penumbra by 138.7% in the fourth quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after buying an additional 154 shares during the period. Finally, Mather Group LLC. boosted its position in Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after acquiring an additional 208 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Penumbra from $230.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Penumbra from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Canaccord Genuity Group lifted their price objective on shares of Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their target price on Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Robert W. Baird boosted their target price on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $294.47.

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.