Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal Sells 782 Shares of Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 782 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $204.11, for a total transaction of $159,614.02. Following the completion of the transaction, the director now owns 8,863 shares of the company’s stock, valued at $1,809,026.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Penumbra Price Performance

Shares of NYSE PEN opened at $204.04 on Friday. The firm has a 50-day simple moving average of $186.88 and a 200-day simple moving average of $203.25. The company has a quick ratio of 3.77, a current ratio of 6.25 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 86.09, a price-to-earnings-growth ratio of 2.26 and a beta of 0.54. Penumbra, Inc. has a 52 week low of $148.00 and a 52 week high of $302.00.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The company had revenue of $299.40 million during the quarter, compared to analysts’ expectations of $298.24 million. During the same quarter in the prior year, the company earned $0.43 EPS. Penumbra’s revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that Penumbra, Inc. will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Penumbra

Several hedge funds and other institutional investors have recently made changes to their positions in PEN. Benjamin F. Edwards & Company Inc. increased its position in Penumbra by 171.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 106 shares of the company’s stock worth $27,000 after purchasing an additional 67 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Penumbra during the 1st quarter valued at approximately $29,000. Quest Partners LLC acquired a new position in Penumbra in the fourth quarter valued at approximately $71,000. WASHINGTON TRUST Co purchased a new position in Penumbra in the second quarter worth approximately $54,000. Finally, Picton Mahoney Asset Management acquired a new stake in Penumbra during the fourth quarter worth $88,000. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analysts Set New Price Targets

PEN has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Royal Bank of Canada reduced their price target on Penumbra from $289.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. BTIG Research boosted their price objective on Penumbra from $187.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler decreased their target price on Penumbra from $260.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.27.

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.