Insider Selling: Penumbra, Inc. (NYSE:PEN) Director Sells 12,000 Shares of Stock

Penumbra, Inc. (NYSE:PEN) Director Arani Bose sold 12,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total value of $3,405,240.00. Following the transaction, the director now owns 314,819 shares of the company’s stock, valued at $89,336,187.63. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Penumbra Stock Down 0.9 %

PEN opened at $267.16 on Friday. The business’s fifty day simple moving average is $274.55 and its 200 day simple moving average is $242.90. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $310.00. The company has a quick ratio of 3.25, a current ratio of 6.01 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.29 billion, a PE ratio of 785.75, a P/E/G ratio of 2.83 and a beta of 0.51.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PEN. Janus Henderson Group PLC grew its holdings in shares of Penumbra by 128.1% during the 3rd quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after purchasing an additional 375,684 shares during the last quarter. Norges Bank bought a new position in shares of Penumbra during the fourth quarter valued at about $54,396,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Penumbra by 47.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 707,061 shares of the company’s stock worth $167,913,000 after buying an additional 227,506 shares during the period. Braidwell LP lifted its stake in shares of Penumbra by 70.0% in the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after acquiring an additional 148,834 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in Penumbra by 23.4% during the 4th quarter. Baillie Gifford & Co. now owns 730,233 shares of the company’s stock valued at $173,416,000 after acquiring an additional 138,387 shares during the period. 88.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEN has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Truist Financial lifted their price objective on shares of Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Oppenheimer assumed coverage on Penumbra in a report on Tuesday, December 17th. They issued an “outperform” rating and a $275.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research note on Wednesday, February 19th. Finally, Morgan Stanley raised their target price on Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.