Insider Selling: Penumbra, Inc. (PEN) Director Sells 500 Shares of Stock
Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $92.90, for a total value of $46,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Harpreet Grewal also recently made the following trade(s):
- On Monday, August 21st, Harpreet Grewal sold 4,500 shares of Penumbra stock. The shares were sold at an average price of $82.65, for a total value of $371,925.00.
Shares of Penumbra, Inc. (NYSE:PEN) traded down 1.61% during mid-day trading on Tuesday, hitting $91.55. The stock had a trading volume of 74,862 shares. The stock has a 50 day moving average price of $88.43 and a 200-day moving average price of $85.73. The company has a market cap of $3.09 billion, a PE ratio of 618.58 and a beta of 0.09. Penumbra, Inc. has a 52-week low of $56.05 and a 52-week high of $94.65.
Penumbra (NYSE:PEN) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $77.16 million. Penumbra had a negative return on equity of 2.58% and a negative net margin of 2.78%. The company’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. On average, equities analysts expect that Penumbra, Inc. will post ($0.21) earnings per share for the current fiscal year.
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Several analysts have commented on PEN shares. BidaskClub raised Penumbra from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Canaccord Genuity reissued a “buy” rating and issued a $94.00 price objective on shares of Penumbra in a report on Tuesday, June 13th. BMO Capital Markets reissued a “buy” rating and issued a $96.00 price objective on shares of Penumbra in a report on Friday, June 16th. Finally, Zacks Investment Research raised Penumbra from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PEN. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Penumbra by 10.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,159 shares of the company’s stock valued at $102,000 after buying an additional 114 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Penumbra during the 1st quarter valued at $194,000. Verition Fund Management LLC acquired a new stake in Penumbra during the 2nd quarter valued at $213,000. FNY Partners Fund LP acquired a new stake in Penumbra during the 1st quarter valued at $223,000. Finally, Prudential Financial Inc. acquired a new stake in Penumbra during the 2nd quarter valued at $252,000. Institutional investors and hedge funds own 70.93% of the company’s stock.
Penumbra Company Profile
Penumbra, Inc is a healthcare company focused on interventional therapies. The Company designs, develops, manufactures and markets medical devices. It has a portfolio of products that addresses medical conditions and clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures.
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