Penumbra, Inc. (NYSE:PEN) EVP Sells $143,844.00 in Stock

Penumbra, Inc. (NYSE:PEN) EVP Johanna Roberts sold 600 shares of Penumbra stock in a transaction on Monday, November 18th. The stock was sold at an average price of $239.74, for a total value of $143,844.00. Following the transaction, the executive vice president now directly owns 64,044 shares of the company’s stock, valued at $15,353,908.56. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Johanna Roberts also recently made the following trade(s):

• On Tuesday, October 1st, Johanna Roberts sold 600 shares of Penumbra stock. The shares were sold at an average price of $190.76, for a total transaction of $114,456.00.
• On Tuesday, September 3rd, Johanna Roberts sold 600 shares of Penumbra stock. The shares were sold at an average price of $206.22, for a total transaction of $123,732.00.

Penumbra Stock Performance

Shares of PEN opened at $240.15 on Friday. The business’s 50 day moving average is $210.39 and its two-hundred day moving average is $197.02. Penumbra, Inc. has a 52-week low of $148.00 and a 52-week high of $277.34. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 279.24, a PEG ratio of 2.40 and a beta of 0.51. 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 announced its earnings results on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.16. The company had revenue of $301.04 million for the quarter, compared to analyst estimates of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. Penumbra’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. Analysts forecast that Penumbra, Inc. will post 2.79 EPS for the current fiscal year.

Penumbra announced that its board has initiated a stock buyback plan on Tuesday, August 13th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Penumbra

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Penumbra by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after acquiring an additional 32,557 shares in the last quarter. First Hawaiian Bank acquired a new stake in Penumbra in the second quarter worth $1,597,000. Tidal Investments LLC increased its position in Penumbra by 276.9% in the first quarter. Tidal Investments LLC now owns 4,971 shares of the company’s stock worth $1,109,000 after buying an additional 3,652 shares during the period. Seven Eight Capital LP acquired a new stake in Penumbra in the first quarter worth $680,000. Finally, Renaissance Technologies LLC acquired a new stake in Penumbra in the second quarter worth $17,943,000. 88.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on PEN shares. BTIG Research lifted their price target on Penumbra from $224.00 to $234.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler boosted their target price on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird boosted their target price on Penumbra from $244.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Leerink Partners assumed coverage on Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 target price for the company. Finally, Wells Fargo & Company cut Penumbra from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $289.00 to $150.00 in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $227.92.

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.