Penumbra (NYSE:PEN) Sees Unusually-High Trading Volume – Here’s What Happened

Penumbra, Inc. (NYSE:PEN) saw unusually-strong trading volume on Monday . Approximately 175,370 shares changed hands during mid-day trading, an increase of 18% from the previous session’s volume of 149,034 shares.The stock last traded at $250.14 and had previously closed at $241.97.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PEN shares. Needham & Company LLC restated a “hold” rating on shares of Penumbra in a research note on Thursday, October 31st. Royal Bank of Canada increased their target price on shares of Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Citigroup boosted their price objective on Penumbra from $220.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Wells Fargo & Company raised shares of Penumbra from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $190.00 to $275.00 in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group raised their target price on shares of Penumbra from $260.00 to $323.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Penumbra has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.

Penumbra Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 3.25. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 274.56, a price-to-earnings-growth ratio of 2.47 and a beta of 0.52. The business’s 50 day moving average price is $238.85 and its 200-day moving average price is $207.48.

Penumbra (NYSE:PEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.16. The firm had revenue of $301.04 million during the quarter, compared to analysts’ expectations of $297.36 million. Penumbra had a return on equity of 8.99% and a net margin of 2.97%. Penumbra’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 earnings per share. Equities analysts forecast that Penumbra, Inc. will post 2.81 EPS for the current fiscal year.

Insider Buying and Selling at Penumbra

In other Penumbra news, CEO Adam Elsesser sold 15,000 shares of Penumbra stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $204.56, for a total value of $3,068,400.00. Following the completion of the sale, the chief executive officer now owns 867,582 shares in the company, valued at $177,472,573.92. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $244.49, for a total value of $146,694.00. Following the sale, the executive vice president now owns 63,444 shares of the company’s stock, valued at approximately $15,511,423.56. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,652 shares of company stock worth $11,157,589. 5.00% of the stock is owned by insiders.

Institutional Trading of Penumbra

Several large investors have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in Penumbra by 128.1% in the third quarter. Janus Henderson Group PLC now owns 668,873 shares of the company’s stock valued at $129,967,000 after purchasing an additional 375,684 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Penumbra by 3,832.3% during the third quarter. Thrivent Financial for Lutherans now owns 368,298 shares of the company’s stock worth $71,564,000 after buying an additional 358,932 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Penumbra by 20.6% in the third quarter. Champlain Investment Partners LLC now owns 1,547,972 shares of the company’s stock worth $300,786,000 after buying an additional 264,122 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Penumbra in the third quarter valued at $31,965,000. Finally, Braidwell LP boosted its stake in Penumbra by 70.0% during the 3rd quarter. Braidwell LP now owns 361,428 shares of the company’s stock valued at $70,229,000 after acquiring an additional 148,834 shares during the last quarter. Institutional investors and hedge funds 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.