Insider Selling: Penumbra, Inc. (NYSE:PEN) CAO Sells 654 Shares of Stock

Penumbra, Inc. (NYSE:PEN) CAO Lambert Shiu sold 654 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $243.01, for a total transaction of $158,928.54. Following the completion of the transaction, the chief accounting officer now owns 20,028 shares in the company, valued at approximately $4,867,004.28. This trade represents a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Lambert Shiu also recently made the following trade(s):

• On Friday, November 29th, Lambert Shiu sold 1,798 shares of Penumbra stock. The shares were sold at an average price of $242.56, for a total transaction of $436,122.88.

Penumbra Price Performance

PEN stock traded up $0.40 during midday trading on Tuesday, hitting $245.24. The company’s stock had a trading volume of 279,206 shares, compared to its average volume of 378,372. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 285.16, a price-to-earnings-growth ratio of 2.46 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, Inc. has a 12 month low of $148.00 and a 12 month high of $277.34. The company has a 50 day moving average of $218.84 and a two-hundred day moving average of $199.03.

Penumbra (NYSE:PEN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.69 by $0.16. Penumbra had a net margin of 2.97% and a return on equity of 8.99%. The business had revenue of $301.04 million during the quarter, compared to the consensus estimate of $297.36 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, analysts expect that Penumbra, Inc. will post 2.81 EPS for the current year.

Penumbra declared that its Board of Directors has approved a share buyback plan on Tuesday, August 13th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Penumbra from $205.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Leerink Partners assumed coverage on Penumbra in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective for the company. Piper Sandler lifted their price target on Penumbra from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Truist Financial boosted their price target on Penumbra from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Penumbra presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEN. True Wealth Design LLC purchased a new stake in shares of Penumbra in the third quarter valued at $26,000. GAMMA Investing LLC boosted its stake in shares of Penumbra by 111.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. WASHINGTON TRUST Co purchased a new position in Penumbra during the second quarter valued at approximately $54,000. Park Place Capital Corp raised its stake in Penumbra by 1,473.9% in the third quarter. Park Place Capital Corp now owns 362 shares of the company’s stock worth $70,000 after buying an additional 339 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Penumbra by 1,845.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 389 shares of the company’s stock worth $70,000 after buying an additional 369 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

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.