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

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.98, for a total transaction of $3,014,700.00. Following the completion of the sale, the chief executive officer now directly owns 942,582 shares of the company’s stock, valued at approximately $189,440,130.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Penumbra Trading Down 4.2 %

NYSE:PEN opened at $190.64 on Friday. The firm has a 50-day simple moving average of $212.45 and a 200-day simple moving average of $232.05. Penumbra, Inc. has a one year low of $180.93 and a one year high of $348.67. The firm has a market cap of $7.39 billion, a P/E ratio of 80.44, a P/E/G ratio of 2.03 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.51 and a current ratio of 6.12.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $278.70 million during the quarter, compared to the consensus estimate of $274.94 million. Penumbra had a return on equity of 7.83% and a net margin of 8.52%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. Equities analysts anticipate that Penumbra, Inc. will post 2.87 EPS for the current fiscal year.

Analyst Ratings Changes

PEN has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Wednesday, May 8th. JPMorgan Chase & Co. downgraded Penumbra from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $284.00 to $250.00 in a research report on Friday, February 23rd. Piper Sandler decreased their target price on Penumbra from $290.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Royal Bank of Canada restated an “outperform” rating and issued a $289.00 price target on shares of Penumbra in a report on Friday, February 23rd. Finally, Canaccord Genuity Group decreased their price objective on shares of Penumbra from $284.00 to $272.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Penumbra currently has an average rating of “Moderate Buy” and a consensus price target of $300.64.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PEN. M&T Bank Corp raised its holdings in Penumbra by 6.1% in the third quarter. M&T Bank Corp now owns 1,262 shares of the company’s stock worth $305,000 after purchasing an additional 72 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Penumbra by 2.5% during the 3rd quarter. California Public Employees Retirement System now owns 69,331 shares of the company’s stock worth $16,772,000 after acquiring an additional 1,665 shares in the last quarter. Victory Capital Management Inc. lifted its position in Penumbra by 18.3% during the third quarter. Victory Capital Management Inc. now owns 34,585 shares of the company’s stock valued at $8,366,000 after acquiring an additional 5,345 shares during the last quarter. F M Investments LLC boosted its stake in Penumbra by 23.5% in the third quarter. F M Investments LLC now owns 8,461 shares of the company’s stock valued at $2,047,000 after acquiring an additional 1,612 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Penumbra by 1.6% in the third quarter. Arizona State Retirement System now owns 10,347 shares of the company’s stock worth $2,503,000 after purchasing an additional 159 shares during the last quarter. 88.88% of the stock is 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.