Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal Sells 167 Shares

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 167 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $241.28, for a total value of $40,293.76. Following the completion of the sale, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Penumbra Stock Down 2.4 %

Shares of NYSE:PEN opened at $236.12 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 52-week low of $148.00 and a 52-week high of $277.34. The stock’s fifty day simple moving average is $239.39 and its 200-day simple moving average is $207.90. The company has a market capitalization of $9.06 billion, a P/E ratio of 274.56, a P/E/G ratio of 2.47 and a beta of 0.52.

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

Analysts Set New Price Targets

PEN has been the topic of several research reports. BTIG Research raised their price objective on Penumbra from $232.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial raised their price target on Penumbra from $240.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Citigroup increased their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Stifel Nicolaus initiated coverage on Penumbra in a report on Tuesday, September 17th. They issued a “buy” rating and a $238.00 target price on the stock. Finally, Piper Sandler lifted their price objective on shares of Penumbra from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Penumbra has an average rating of “Moderate Buy” and an average price target of $258.00.

Hedge Funds Weigh In On Penumbra

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in Penumbra by 2.1% in the third quarter. FMR LLC now owns 5,896,396 shares of the company’s stock valued at $1,145,729,000 after purchasing an additional 121,465 shares during the last quarter. Champlain Investment Partners LLC increased its stake in Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock valued at $300,786,000 after purchasing an additional 264,122 shares during the last quarter. State Street Corp increased its stake in Penumbra by 0.3% in the third quarter. State Street Corp now owns 1,236,671 shares of the company’s stock valued at $240,298,000 after purchasing an additional 3,863 shares during the last quarter. RTW Investments LP increased its stake in Penumbra by 7.2% in the third quarter. RTW Investments LP now owns 795,750 shares of the company’s stock valued at $154,622,000 after purchasing an additional 53,645 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Penumbra by 128.1% during the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock worth $129,967,000 after acquiring an additional 375,684 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors and hedge funds.

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.