Insider Selling: Penumbra, Inc. (NYSE:PEN) CEO Sells 16,565 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,565 shares of Penumbra stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $272.24, for a total value of $4,509,655.60. Following the completion of the sale, the chief executive officer now owns 52,495 shares in the company, valued at approximately $14,291,238.80. This trade represents a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, March 19th, Adam Elsesser sold 16,600 shares of Penumbra stock. The shares were sold at an average price of $276.21, for a total value of $4,585,086.00.
• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The stock was sold at an average price of $283.59, for a total transaction of $17,469,144.00.

Penumbra Stock Down 4.0 %

PEN stock opened at $262.37 on Friday. The company has a 50 day moving average price of $274.48 and a two-hundred day moving average price of $245.21. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.25 and a current ratio of 6.01. The stock has a market capitalization of $10.11 billion, a P/E ratio of 771.66, a PEG ratio of 2.83 and a beta of 0.51. Penumbra, Inc. has a one year low of $148.00 and a one year high of $310.00.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Penumbra had a return on equity of 9.74% and a net margin of 1.17%. The business had revenue of $315.52 million during the quarter, compared to the consensus estimate of $311.63 million. As a group, sell-side analysts expect that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

PEN has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Penumbra from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. UBS Group lifted their price target on shares of Penumbra from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler restated an “overweight” rating and issued a $330.00 price target (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Citigroup lifted their price objective on Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird upped their target price on 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $294.47.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. UMB Bank n.a. increased its position in Penumbra by 57.4% during the fourth quarter. UMB Bank n.a. now owns 192 shares of the company’s stock worth $46,000 after purchasing an additional 70 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Penumbra during the 4th quarter worth $56,000. Huntington National Bank raised its position in shares of Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock worth $63,000 after buying an additional 154 shares during the period. Mather Group LLC. raised its position in shares of Penumbra by 208.0% in the 4th quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares during the period. Finally, Versant Capital Management Inc grew its position in Penumbra by 893.5% during the first quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock valued at $82,000 after acquiring an additional 277 shares during the period. 88.88% of the stock is currently owned by hedge funds and other 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.