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

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $242.96, for a total transaction of $3,644,400.00. Following the completion of the sale, the chief executive officer now owns 837,582 shares in the company, valued at $203,498,922.72. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $237.28, for a total transaction of $3,559,200.00.
• On Monday, October 21st, Adam Elsesser sold 15,000 shares of Penumbra stock. The stock was sold at an average price of $204.56, for a total transaction of $3,068,400.00.

Penumbra Stock Down 0.8 %

NYSE:PEN opened at $240.55 on Tuesday. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. The stock’s fifty day simple moving average is $232.15 and its 200-day simple moving average is $203.76. The firm has a market capitalization of $9.23 billion, a P/E ratio of 279.71, a P/E/G ratio of 2.47 and a beta of 0.51.

Penumbra (NYSE:PEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.16. The company had revenue of $301.04 million during the quarter, compared to analyst estimates of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 EPS. Equities research analysts expect that Penumbra, Inc. will post 2.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PEN. Leerink Partners began coverage on Penumbra in a report on Tuesday, September 3rd. They issued an “outperform” rating and a $263.00 target price on the stock. Royal Bank of Canada raised their target price on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. BTIG Research upped their price target 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. Piper Sandler increased their price objective on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $190.00 to $275.00 in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Penumbra has a consensus rating of “Moderate Buy” and a consensus price target of $258.00.

Institutional Investors Weigh In On Penumbra

Several large investors have recently bought and sold shares of the company. True Wealth Design LLC bought a new position in shares of Penumbra during the third quarter worth $26,000. GAMMA Investing LLC lifted its holdings in Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Park Place Capital Corp grew its stake in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after acquiring an additional 339 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Penumbra by 1,845.0% in 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 period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Penumbra by 11.5% in the third quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 43 shares in the last quarter. 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.