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 shares were sold at an average price of $276.21, for a total transaction of $4,585,086.00. Following the completion of the transaction, the chief executive officer now directly owns 27,752 shares in the company, valued at approximately $7,665,379.92. This represents a 37.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

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

Penumbra Trading Down 0.1 %

Penumbra stock opened at $280.93 on Monday. The firm’s 50-day moving average is $272.70 and its 200-day moving average is $240.56. 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 1 year low of $148.00 and a 1 year high of $310.00. The company has a market cap of $10.82 billion, a P/E ratio of 826.25, a PEG ratio of 2.83 and a beta of 0.51.

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, topping analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. The company had revenue of $315.52 million for the quarter, compared to the consensus estimate of $311.63 million. On average, equities analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PEN. Wells Fargo & Company raised their target price on shares of Penumbra from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Oppenheimer initiated coverage on shares of Penumbra in a report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 price target (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Finally, Robert W. Baird raised their price target on shares of Penumbra from $305.00 to $328.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $294.47.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. True Wealth Design LLC bought a new stake in Penumbra in the 3rd quarter valued at about $26,000. UMB Bank n.a. lifted its position in Penumbra by 57.4% in the 4th quarter. UMB Bank n.a. now owns 192 shares of the company’s stock valued at $46,000 after purchasing an additional 70 shares during the last quarter. Hurley Capital LLC bought a new stake in Penumbra in the 4th quarter valued at about $56,000. Huntington National Bank lifted its position in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after purchasing an additional 154 shares during the last quarter. Finally, Mather Group LLC. lifted its position in Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock valued at $73,000 after purchasing an additional 208 shares during the last quarter. 88.88% of the stock is currently owned by 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.