Harpreet Grewal Sells 100 Shares of Penumbra (NYSE:PEN) Stock

Penumbra, Inc. (NYSE:PEN) Director Harpreet Grewal sold 100 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $292.98, for a total transaction of $29,298.00. Following the completion of the sale, the director owned 8,416 shares of the company’s stock, valued at $2,465,719.68. This represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Harpreet Grewal also recently made the following trade(s):

• On Tuesday, November 4th, Harpreet Grewal sold 186 shares of Penumbra stock. The shares were sold at an average price of $227.58, for a total value of $42,329.88.
• On Tuesday, November 4th, Harpreet Grewal sold 186 shares of Penumbra stock. The stock was sold at an average price of $227.58, for a total transaction of $42,329.88.
• On Thursday, October 2nd, Harpreet Grewal sold 186 shares of Penumbra stock. The stock was sold at an average price of $248.61, for a total transaction of $46,241.46.

Penumbra Trading Up 3.3%

NYSE PEN opened at $295.03 on Friday. Penumbra, Inc. has a one year low of $221.26 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.73 and a quick ratio of 4.18. The stock’s 50-day moving average is $263.21 and its 200-day moving average is $258.04. The firm has a market cap of $11.55 billion, a P/E ratio of 70.58, a P/E/G ratio of 2.36 and a beta of 0.66.

Penumbra (NYSE:PEN) last issued its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.07. Penumbra had a net margin of 12.30% and a return on equity of 11.35%. The company had revenue of $354.69 million for the quarter, compared to analysts’ expectations of $340.77 million. During the same period in the prior year, the firm earned $0.85 EPS. Penumbra’s quarterly revenue was up 17.8% compared to the same quarter last year. Sell-side analysts anticipate that Penumbra, Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $326.00 target price on shares of Penumbra in a research report on Monday, October 27th. Canaccord Genuity Group increased their target price on shares of Penumbra from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Wells Fargo & Company began coverage on Penumbra in a research note on Tuesday, November 18th. They issued an “underweight” rating on the stock. Wall Street Zen lowered Penumbra from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on Penumbra from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Abbot Financial Management Inc. boosted its holdings in Penumbra by 1.3% in the third quarter. Abbot Financial Management Inc. now owns 3,254 shares of the company’s stock worth $824,000 after acquiring an additional 42 shares in the last quarter. Glenview Trust Co boosted its holdings in shares of Penumbra by 5.0% during the 3rd quarter. Glenview Trust Co now owns 904 shares of the company’s stock worth $229,000 after purchasing an additional 43 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in Penumbra by 0.5% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 8,693 shares of the company’s stock worth $2,202,000 after purchasing an additional 47 shares during the period. GAMMA Investing LLC increased its position in shares of Penumbra by 7.3% during the 2nd quarter. GAMMA Investing LLC now owns 761 shares of the company’s stock worth $195,000 after purchasing an additional 52 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Penumbra by 53.0% during the third quarter. Covestor Ltd now owns 179 shares of the company’s stock worth $46,000 after buying an additional 62 shares during the period. 88.88% of the stock is currently owned by institutional investors.

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.