Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser Sells 16,650 Shares

Penumbra, Inc. (NYSE:PEN) CEO Adam Elsesser sold 16,650 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $289.37, for a total transaction of $4,818,010.50. Following the sale, the chief executive officer now owns 75,237 shares in the company, valued at $21,771,330.69. The trade was a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Adam Elsesser also recently made the following trade(s):

• On Wednesday, April 16th, Adam Elsesser sold 16,560 shares of Penumbra stock. The shares were sold at an average price of $274.35, for a total transaction of $4,543,236.00.
• On Wednesday, April 2nd, Adam Elsesser sold 16,565 shares of Penumbra stock. The stock was sold at an average price of $272.24, for a total transaction of $4,509,655.60.
• On Wednesday, March 19th, Adam Elsesser sold 16,600 shares of Penumbra stock. The shares were sold at an average price of $276.21, for a total transaction of $4,585,086.00.
• On Wednesday, March 5th, Adam Elsesser sold 61,600 shares of Penumbra stock. The stock was sold at an average price of $283.59, for a total value of $17,469,144.00.

Penumbra Trading Up 3.0 %

NYSE PEN opened at $297.25 on Friday. The company has a market cap of $11.51 billion, a P/E ratio of 874.26, a P/E/G ratio of 2.83 and a beta of 0.53. Penumbra, Inc. has a 12 month low of $148.00 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.01 and a quick ratio of 3.25. The company has a 50-day moving average of $277.75 and a 200-day moving average of $260.95.

Penumbra (NYSE:PEN) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.66 by $0.17. The firm had revenue of $324.14 million during the quarter, compared to analyst estimates of $315.72 million. Penumbra had a net margin of 1.17% and a return on equity of 9.74%. Penumbra’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. As a group, equities analysts predict that Penumbra, Inc. will post 3.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEN. Charles Schwab Investment Management Inc. raised its holdings in shares of Penumbra by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 283,821 shares of the company’s stock worth $75,897,000 after purchasing an additional 12,247 shares during the period. Vanguard Group Inc. increased its position in Penumbra by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,675,349 shares of the company’s stock worth $982,825,000 after purchasing an additional 24,727 shares in the last quarter. Intrust Bank NA acquired a new position in Penumbra during the first quarter valued at approximately $593,000. Thoroughbred Financial Services LLC grew its stake in Penumbra by 3.1% during the first quarter. Thoroughbred Financial Services LLC now owns 10,777 shares of the company’s stock worth $2,881,000 after buying an additional 320 shares during the period. Finally, Blair William & Co. IL increased its position in shares of Penumbra by 74.4% in the first quarter. Blair William & Co. IL now owns 6,522 shares of the company’s stock worth $1,744,000 after acquiring an additional 2,782 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PEN. BTIG Research reiterated a “buy” rating on shares of Penumbra in a research report on Thursday, April 24th. Truist Financial boosted their price objective on shares of Penumbra from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Bank of America started coverage on shares of Penumbra in a report on Friday, March 14th. They set a “buy” rating and a $320.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price objective on shares of Penumbra from $315.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $302.40.

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.