Insider Selling: Penumbra, Inc. (NYSE:PEN) Director Sells 12,000 Shares of Stock

Penumbra, Inc. (NYSE:PEN) Director Arani Bose sold 12,000 shares of Penumbra stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $283.77, for a total value of $3,405,240.00. Following the transaction, the director now owns 314,819 shares in the company, valued at approximately $89,336,187.63. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Penumbra Price Performance

PEN stock opened at $267.16 on Friday. The business’s fifty day moving average price is $274.55 and its 200 day moving average price is $242.63. Penumbra, Inc. has a 12-month low of $148.00 and a 12-month high of $310.00. The company has a market capitalization of $10.29 billion, a PE ratio of 785.75, a P/E/G ratio of 2.83 and a beta of 0.51. The company has a current ratio of 6.01, a quick ratio of 3.25 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $315.52 million for the quarter, compared to analysts’ expectations of $311.63 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. On average, sell-side analysts anticipate that Penumbra, Inc. will post 3.67 EPS for the current year.

Hedge Funds Weigh In On Penumbra

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new stake in shares of Penumbra in the third quarter valued at $26,000. UMB Bank n.a. increased its holdings in Penumbra by 57.4% during the 4th 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 period. Hurley Capital LLC acquired a new stake in Penumbra in the 4th quarter valued at about $56,000. Huntington National Bank boosted its stake in shares of 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. Finally, Mather Group LLC. grew its position in shares of Penumbra by 208.0% during the fourth quarter. Mather Group LLC. now owns 308 shares of the company’s stock worth $73,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEN. Piper Sandler reiterated an “overweight” rating and set a $330.00 price target (up previously from $250.00) on shares of Penumbra in a report on Wednesday, February 19th. Citigroup raised their price objective on shares of Penumbra from $220.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. UBS Group raised their price target on shares of Penumbra from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price target on shares of Penumbra from $285.00 to $313.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.