Penumbra, Inc. (NYSE:PEN) Director Sells $40,293.76 in Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 167 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,058,118.40. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Penumbra Stock Down 2.4 %

Penumbra stock opened at $236.12 on Tuesday. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 274.56, a PEG ratio of 2.47 and a beta of 0.52. The company has a current ratio of 5.82, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $239.39 and its two-hundred day moving average price is $207.90. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $277.34.

Penumbra (NYSE:PEN) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. On average, analysts expect that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Analysts Set New Price Targets

PEN has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Thursday, October 31st. Stifel Nicolaus assumed coverage on Penumbra in a report on Tuesday, September 17th. They set a “buy” rating and a $238.00 target price on the stock. Citigroup increased their target price on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, Piper Sandler increased their target price on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Four equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.00.

Hedge Funds Weigh In On Penumbra

Several hedge funds have recently made changes to their positions in PEN. Commonwealth Equity Services LLC acquired a new position in shares of Penumbra in the 2nd quarter worth approximately $215,000. Natixis Advisors LLC purchased a new position in shares of Penumbra in the second quarter worth approximately $3,423,000. Rhumbline Advisers increased its position in shares of Penumbra by 0.5% in the second quarter. Rhumbline Advisers now owns 109,132 shares of the company’s stock worth $19,640,000 after acquiring an additional 517 shares in the last quarter. TD Asset Management Inc increased its position in shares of Penumbra by 3.2% in the second quarter. TD Asset Management Inc now owns 133,942 shares of the company’s stock worth $24,106,000 after acquiring an additional 4,156 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Penumbra by 2.1% in the second quarter. Arizona State Retirement System now owns 10,293 shares of the company’s stock worth $1,852,000 after acquiring an additional 216 shares in the last quarter. Institutional investors and hedge funds 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.