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

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,565 shares of Penumbra stock in a transaction 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 transaction, the chief executive officer now owns 52,495 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink.

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. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 771.66, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The company has a fifty day moving average price of $274.48 and a 200 day moving average price of $245.21.

Penumbra (NYSE:PEN) last announced its earnings results 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 net margin of 1.17% and a return on equity of 9.74%. The business had revenue of $315.52 million during the quarter, compared to analysts’ expectations of $311.63 million. Sell-side analysts expect that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PEN. UMB Bank n.a. raised its stake in shares of 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 purchased a new position in Penumbra in the 4th quarter valued at $56,000. Huntington National Bank increased its stake in Penumbra by 138.7% in the 4th quarter. Huntington National Bank now owns 265 shares of the company’s stock valued at $63,000 after buying an additional 154 shares during the period. Mather Group LLC. raised its position in Penumbra by 208.0% during 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 last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Penumbra by 893.5% in the 1st quarter. Versant Capital Management Inc now owns 308 shares of the company’s stock worth $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.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PEN shares. Bank of America assumed coverage on shares of Penumbra in a research report on Friday, March 14th. They issued a “buy” rating and a $320.00 price objective on the stock. Truist Financial increased their target price on Penumbra from $285.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 price target (up from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Canaccord Genuity Group increased their price objective on Penumbra from $323.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Robert W. Baird raised their target price on Penumbra from $305.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and an average price target of $294.47.

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.