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

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 167 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 8,530 shares in the company, valued at approximately $2,058,118.40. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Penumbra Price Performance

Shares of PEN stock traded down $5.85 on Monday, reaching $236.12. The company’s stock had a trading volume of 1,022,987 shares, compared to its average volume of 446,218. The company has a market capitalization of $9.06 billion, a P/E ratio of 274.56, a PEG ratio of 2.47 and a beta of 0.52. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $277.34. The stock’s 50 day simple moving average is $238.85 and its 200-day simple moving average is $207.48. The company has a quick ratio of 3.25, a current ratio of 5.82 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. The firm had revenue of $301.04 million for the quarter, compared to analysts’ expectations of $297.36 million. During the same quarter last year, the firm posted $0.67 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that Penumbra, Inc. will post 2.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on PEN shares. Canaccord Genuity Group boosted their target price on Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Oppenheimer initiated coverage on shares of Penumbra in a report on Tuesday, December 17th. They set an “outperform” rating and a $275.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price target on shares of Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler raised their price objective on shares of Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $258.00.

Hedge Funds Weigh In On Penumbra

Hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new stake in shares of Penumbra during the 3rd quarter valued at $26,000. GAMMA Investing LLC increased its stake in Penumbra by 111.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Park Place Capital Corp raised its position in Penumbra by 1,473.9% during the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock valued at $70,000 after purchasing an additional 339 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after purchasing an additional 369 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Penumbra by 11.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors 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.